iPhone 5 may be unable to facilitate mobile payments upon release
Apple may be prepared to include NFC technology in the latest incarnation of its popular iPhone smart phones, but that does not mean that the mobile device will be capable of facilitating mobile payments. Apple’s mobile commerce system – called Passbook – has been revealed, but the company has shown little interest in making mobile commerce one of its main focuses. The service has, nonetheless, garnered attention for its potential uses in mobile commerce, despite the fact that it cannot be directly linked to credit or debit cards.
Company decides to take a slow approach to mobile commerce
Apple executives have determined that the company will move slowly into the mobile commerce industry. The slow approach is meant to test the waters of the industry and discern any potential problems before they become a serious issue that could lead to the exploitation of consumer information. The company has not officially revealed additional details concerning its slow approach of mobile commerce, but industry analysts suggest that security concerns and the company’s ability to compete with others may be likely culprits.
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Strong competition may be the reason for Apple’s view on the industry
Google is poised to be one of Apple’s major competitors in the mobile commerce industry. The famed technology company has already released an NFC-based payment system, called the Google Wallet. The Wallet has managed to attract some support from consumers, but its lackluster security features have left many with a sour experience of mobile commerce. Major competition could come from Isis, a joint venture from AT&T, Verizon Wireless and T-Mobile.
Apple’s mobile commerce future still unknown
Mobile commerce is becoming more popular with consumers who are interested in augmenting their mobile devices into payment platforms. Apple has taken note of this growing interest, but has opted to take its time concerning its entry into the increasingly crowded arena of mobile commerce. As such, the iPhone 5 may not be able to facilitate mobile payments when it is released to the commercial market.