Apple to pursue NFC technology as mobile commerce gains momentum amongst consumers

Last week, Apple reported its fiscal first-quarter results of 2012, which showed that the quarterly revenue of the company had reached an all-time high of $46 billion. During the report, Apple CEO Tim Cook stated that this momentum would carry over to innovative projects the company had planned for the future. One of these projects is likely to involve mobile commerce as Apple looks to finally adopt NFC technology. The technology will likely be a feature with the next iPhone, which is expected to come out in late 2012.

Apple has expressed interest in the technology for more than a year. The quarterly report was the first time the company had acknowledged that it would be pursuing NFC for sure. The company may be looking to take advantage of the growing momentum behind the technology, spurred largely by the response from consumers who are enjoying the technology. Apple claims that NFC will be a feature with future iPhones and iPad devices and that these mobile devices will facilitate mobile payments.

Apple has yet to announce whether it will develop its own mobile wallet application like that of Google’s, but this seems likely as the company is well known for its singular approach to branding. Whatever the company chooses to do, it will have to begin working with financial institutions in order to begin entering into the mobile commerce industry. This may take some time, as many major financial institutions have already chosen their sides in the battle of supremacy over the industry.