Surprising news from Apple has sent waves through the mobile commerce community. Apple has been the subject of speculation recently for their possible inclusion of NFC technology in their next iPhone and iPad mobile devices. This speculation is largely fueled by patents that had been introduced years ago. The company will be getting a lot of attention this week, however, because one of these patents has been awarded to the company, opening the way for its entry into the mobile commerce industry.
This week, Apple was awarded approval for their “iWallet” patent. The patent was first filed in 2010. The iWallet will be a part of future iPhones, all of which will be equipped with an NFC chip. The chip will be linked to a mobile application that will allow users to make payments with their iPhone. It will be the first time Apple has made use of NFC technology.
The reason the patent is such big news is because it allows Apple to be the one to establish transaction rules for controlling a subsidiary financial account. These standards will serve as a benchmark, guiding other technology companies that are looking to try their hands at mobile commerce. Given Apple’s massive following, the company is likely to become one of the major players in the mobile commerce industry. Currently, its only major competitor is the joint venture from AT&T, T-Mobile and Verizon Wireless, known as ISIS.
