Analysts expect iPay system to be absent from Apple TV
Technology giant Apple announced late last year development plans for a new project dubbed Apple TV. The project was meant to revolutionize the television industry by introducing new technology that could open up untapped revenue streams. The Apple TV is meant to include NFC technology, which will allow it to accept mobile payments as well as provide owners with access to digital content. Speculation suggests that that Apple has plans to launch a new mobile payment platform called “iPay” alongside with the Apple TV, which investment bank J.P. Morgan analyst Mark Moskowitz believes is farfetched.
Apple is taking a keen interest in NFC technology
Apple has been growing increasingly interested in NFC technology. NFC is capable of turning mobile devices into payment platforms and have been the primary force behind mobile commerce. Last month, Apple revealed plans to include NFC technology in the latest iteration of the iPhone. A patent filed by the company suggests that the company is developing a mobile payment application called iWallet, which will be used to facilitate mobile transactions. While the company is showing clear signs of interest in mobile commerce, Moskowitz believes there is not enough evidence to suggest that a new payment platform will be included with the Apple TV.
Economy could delay NFC system
According to Moskowitz, the TV industry is currently going through a period of strained economics. As such, the analyst does not believe that the Apple TV would be able to compete in the current market if it were to feature an integrated payment system. Given the troublesome state of the global economy, consumers may not be inclined to purchase enhanced content for their TVs, especially when they are already paying for access to the networks airing their favorite broadcasts.
iPay system may be released at a later date
If Apple does plan to launch a mobile payment system with the Apple TV, J.P. Morgan does not expect that it will happen this year. The iPay platform may be in development – according to some patent applications from the company – but development of the system is likely slow due to economic factors. Apple may choose to launch the serve when the economy begins showing more promising signs of recovery.