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Apple Said To Team With Visa, MasterCard On iPhone Wallet

Posted by samzenpus on from the pay-your-way dept.

An anonymous reader writes with news about a possible partnership between Apple and major credit card companies. Apple plans to turn its next iPhone into a mobile wallet through a partnership with major payment networks, banks and retailers, according a person familiar with the situation. The agreement includes Visa, MasterCard, and American Express and will be unveiled on Sept. 9 along with the next iPhone, said the person, who asked not to be identified because the talks are private. The new iPhone will make mobile payment easier by including a near-field communication chip for the first time, the person said. That advancement along with Touch ID, a fingerprint recognition reader that debuted on the most recent iPhone, will allow consumers to securely pay for items in a store with the touch of a finger.

4 of 187 comments (clear)

  1. Re:As much as I hate Apple by Isomorphic · · Score: 5, Insightful

    This is not really a surprising move from Apple. It was more or less a given once they rolled out TouchID.

    On the flip side, I've been listening to various Internet commentators go on and on about how Apple "has to have NFC" (reason: "because Android does"). Meanwhile, I've had an RFID credit card for approximately five years now, and, despite attempting to use it at numerous terminals marked with the RFID symbols, have only been successful in using it less than five times. Apparently no one running a retail payment terminal cares.

    Even if you are a hater, you have to admit Apple's entry into this market will help spur businesses to roll out NFC terminals, or switch on NFC on their existing terminals, or just make sure the NFC works.

  2. Re:As much as I hate Apple by Pieroxy · · Score: 5, Insightful

    Well, in all honesty, Apple still has the best selling smartphone, undisputed. Granted, the 127 different models Samsung produces are selling more, but Apple makes three phones in the top 6, just like Samsung. The iPhone 5c is the #1.

    http://news.yahoo.com/apple-sa...

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    Write boring code, not shiny code!
  3. Re:As much as I hate Apple by Bogtha · · Score: 5, Insightful

    Market share isn't the important factor though. iPhone sales have grown every year. Apple's profits have grown every year. They are the most profitable phone vendor by a long way. If that's failing, I'd love to fail as hard as Apple are.

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    Bogtha Bogtha Bogtha
  4. Re:As much as I hate Apple by EzInKy · · Score: 5, Insightful

    The only fair price to enable spending your own money is zero.

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    Time is what keeps everything from happening all at once.