Apple to Embed NFC Technology for Mobile Payment Systems in iPhone, iPad

Bloomberg is reporting from its sources that Apple is poised to introduce services enabling customers to use their iPhone and iPad as an e-wallet for making purchases via their mobile device. By embedding NFC technology in the 5th generation iPhone and 2nd generation iPad, mobile payments systems will likely take hold as never before in …   Read More

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Bloomberg is reporting from its sources that Apple is poised to introduce services enabling customers to use their iPhone and iPad as an e-wallet for making purchases via their mobile device.

By embedding NFC technology in the 5th generation iPhone and 2nd generation iPad, mobile payments systems will likely take hold as never before in US, thanks to the technology’s adoption by a major leader in consumer mobile electronics.

The report comes from Richard Doherty, director of consulting firm Envisioneering Group, who spoke with Bloomberg.

The services are based on “Near-Field Communication,” a technology that can beam and receive information at a distance of up to 4 inches, due to be embedded in the next iteration of the iPhone for AT&T Inc. and the iPad 2, Doherty said. Both products are likely to be introduced this year, he said, citing engineers who are working on hardware for the Apple project.

The infusion of NFC technology for Apple across its hugely popular iDevice line is a no-brainer, say industry and marketing analysts.

The main goal for Apple would be to get a piece of the $6.2 trillion Americans spend each year on goods and services, says Richard Crone, of financial industry adviser Crone Consulting LLC. “Today, the company pays credit-card processing fees on every purchase from iTunes. By encouraging consumers to use cheaper methods — such as tapping their bank accounts directly, which is how many purchases are made via PayPal — Apple could cut its own costs and those of retailers selling Apple products,” Crone tells Bloomberg.

Might Apple be the game-changer for mobile payment systems in the US? All signs now point to the affirmative. But, characteristically of secretive Apple, spokespersons for the company declined comment in reference to reports that NFC technology is inbound for future iPhones and iPads.

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12 comments

  1. Unlocking an opportunity to engage and prepare children with the financial tools of the future. | simbank

    […] As you can see, password protected Smartphone NFC technology will eliminate many security issues, credit cards, cash and checks: (http://www.mobilemarketingwatch.com/apple-to-embed-nfc-technology-for-mobile-payment-systems-in-ipho…). […]

  2. Josh

    I'd say that the Nexus S beat google to it. (http://blog.builtbyprime.com/web/why-i-love-the-nexus-s-vs-iphone-4)

  3. simbank | bitlbank

    […] As you can see, password protected Smartphone NFC technology will eliminate many security issues, credit cards, cash and checks: (http://www.mobilemarketingwatch.com/apple-to-embed-nfc-technology-for-mobile-payment-systems-in-ipho…). […]

  4. NFC Jobs

    No real suprise here, the question is not whether apple will have it but whether retail outlets will accept it, and shell out the capital expenditures for the hardware

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