Apple breaks into mobile payments

apple event mobile iPhones

iPhone 6 revealed, representing Apple’s first real step into mobile payments

Apple has finally unveiled the iPhone 6 and iPhone 6 Plus, showcasing the advanced design and new features of these devices. Notably, the iPhone 6 will be equipped with a larger screen, better hardware, and more support for mobile wallets and mobile payments. The device represents Apple’s first real foray into the mobile payment field. The company has been slow to warm to the concept of digital commerce due to security concerns and the lack of an effective technology that can support its interests.

iPhone 6 will feature support for NFC technology and digital payments

The iPhone 6 will be equipped with NFC technology, which will work alongside Apple’s Touch ID biometric scanner that was introduced with the iPhone 5s. Apple had initially been wary of NFC due to security concerns, but the combination of NFC and Touch ID may have put these concerns to rest. The fact that the new smartphone is equipped with NFC technology will make it compatible with most current mobile payments platforms that are available to the public.

Apple intends to make conventional wallets obsolete with its mobile services

apple mobile paymentsApple also intends for the iPhone 6 to replace conventional wallets. Mobile wallets are becoming more popular as mobile shopping and payments gain more support from consumers. These digital wallets are relatively simple applications that are designed to store financial information, as well as information provided by retailers. Apple plans to put more emphasis on mobile wallets with the launch of its ambitious Apple Pay platform.

Apple Pay to launch in September, accepted by more than 220,000 merchants throughout the world and will support Apple Passbook

Apple Pay is officially launching next month with the new iOS 8 operating system. The platform is already set to be accepted by 220,000 merchants from around the world, including Macy’s, Bloomingdales, Walgreens, Subway, Whole Foods, and McDonald’s. The platform uses a picture of a credit card to conduct mobile payments. This information is contained within the Apple Passbook, which is Apple’s version of a mobile wallet.

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