“Apple is working on technology which would enable customers to make purchases with their iPhone or iPad devices, according to Bloomberg,” Scott Rubin writes for Seeking Alpha.
“Users would be able to access saved bank account information or credit card numbers,” Rubin writes. “Apple engineers are harnessing ‘Near-Field Communication’ (NFC), a technology which can transmit and receive information up to 4 inches, according to the article. The products are expected to be introduced to the market sometime this year.”
Rubin writes, “Once the technology hits the market, it may threaten the credit card companies. If users can access their bank accounts directly to make purchases and avoid using a credit card, companies like Visa (V), Mastercard (MA), and Discover (DFS) may see a hit to their revenues.”
Full article here.
MacDailyNews Take: The following was written over 8 years ago: This device, able to be made today with current technology, would easily be “The Device.” Running Mac OS X or a mobile variant, it would allow the user to communicate via text, audio, and video. It would snap digital photos and organize them, do email, and browse the web. It would sync automatically with your desktop or portable Mac… It would absorb the iPod by playing AAC / MP3 audio and interface with iTunes, but it would also play feature-length MPEG-4 movies, too, in full color… and any number of websites in your pocket. McDonald’s Drive Thru’s would accept payments via Bluetooth from “The Device.” – SteveJack, MacDailyNews, December 10, 2002
[Thanks to MacDailyNews Reader “GetMeOnTop” for the heads up.]