Apple may be taking steps to finally break into mobile commerce
More momentum is being added to rumors suggesting that Apple will finally make an entrance into the mobile commerce market. The company has been taking a slow and cautious approach to the mobile commerce issue, hoping to avoid some of the pitfalls that other companies entering into this sector have fallen into. Recent reports suggest that Apple is actively working to build a new mobile commerce platform that may be featured as part of the iPhone 6 that is expected to be released later this year.
CEO acknowledges the promise that can be found in the mobile payments sector
Apple CEO Tim Cook is adding fuel to the fire surrounding the issue of the company’s involvement in mobile payments. According to Cook, Apple sees a great deal of promise in the mobile commerce space. Cook also suggests that there are many opportunities that exist in the mobile commerce market that the company has not yet taken advantage of. Currently, the iOS platform has served as a host for various mobile payments services, but none of these services have benefitted Apple directly.
iOS users find alternatives to NFC
Companies like Square, which is currently considered one of the leaders in North American mobile commerce, have developed services that allow iOS users to participate in mobile payments. Typically, mobile commerce platforms make use of NFC technology, which iOS devices do not support. As such, iOS users have been left out of the mobile payments sector for some time, waiting for companies to provide an alternative to platforms that are based on NFC technology.
Apple acquisitions may establish foundation for mobile commerce platforms
In 2013, Apple expressed concerns regarding the security of mobile commerce platforms. The company had suggested that NFC technology did not offer enough security options to be considered a viable mobile payments tool. As such, Apple has been working to find some alternative to NFC. Last year, the company acquired firms that specialize in biometric technology, introducing a finger print scanner in the iPhone 5S. The company also recently introduced the iBeacon, which is a location-based technology that is designed to augment shopping by leveraging the power of mobile technology.
