Our Sources Say the Next iPhone Will Include NFC Mobile Payments
By Christina Bonnington
Wired
08.28.14, 6:30 am
Platforms like Google Wallet, Isis, and Square have been around for years, while Apple has remained curiously silent on the mobile payments front. Well not anymore.
The company’s next iPhone will feature its own payment platform, sources familiar with the matter told WIRED. In fact, that platform will be one of the hallmark features of the device when it’s unveiled on September 9. We’re told the solution will involve NFC.
Apple is in the perfect position to launch its own mobile wallet. The Cupertino company has a vast trove of credit cards already on file thanks to iTunes (over 800 million, in fact), and a huge pool of potential users, thanks to the millions of iOS devices out there. And mounting evidence has indicated that the company is investing in such an endeavor.
Over the years, the company has filed a number of patents relating to an e-wallet platform. One, published this past January, detailed how dual wireless protocols like NFC and Bluetooth could be paired to complete a transaction while sensitive data is stored in a “secure element” in the device’s hardware. Another patent describes a payment system that’s location and context aware, offering the user various options (like rewards cards or coupons) when relevant.
On the business side, The Information previously reported that conversations between Apple and payment companies have heated up in recent months and that Apple’s solution will incorporate a “so-called secure element” in the phone where sensitive financial information would be stored. Apple has also made hires relating to “building a business around the hundreds of millions of credit cards it already has on file.”
While Apple’s exact implementation is still unclear at this point, we can still make some general idea of what it will look like. The company has made a huge push to get its Bluetooth LE-transmitting iBeacons into retailers across the country. And because Apple did not spend a great deal of time expounding on iBeacons at WWDC this year, it’s possible they could be a greater focus at Apple’s September media event—as a part of its mobile payment solution. Touch ID will also likely play a role in securing the platform, and it could make sense for Passbook, Apple’s hub for tickets and coupons, to get some level of integration with the service too. We’ll find out more on September 9th.
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