“Apple next week will put momentum into the mobile payments industry and the industry can’t wait, Yoyo CEO, Alain Falys [says],” Jonny Evans reports for Computerworld. “‘Apple has always released enabling technologies which have allowed others to offer great apps and services,’ he said. ‘We’ve been eagerly anticipating Apple’s entry into the mobile payment space, as it will make mobile payments accessible and ubiquitous,’ Falys says.”
“Apple has reportedly reached deals with all the big credit card firms for its system: American Express, Visa and Mastercard, while also nailing payment-processing deals with banks,” Evans reports. “Apple will use TouchID as the foundation to turn your iPhone into your iWallet, so you can make secure payments using NFC.”
“It seems obvious Apple delayed NFC deployment while it acquired Authentec and developed TouchID, which has now been tested on the market for a year. Apple has been pulling together a mobile payments solution since at least 2010,” Evans reports. “Apple’s solution will meet consumer expectation that mobile payment systems should combine convenience with simplicity and speed [See: Edgar Dunn & Co., pdf], delivering ‘frictionless shopping experiences.'”
Read more in the full article here.
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