iPhone may be able to participate in mobile commerce after all
Apple fans are not likely to see the iPhone make its entry into the mobile commerce field any time soon. Those interested in mobile commerce held high hopes that the iPhone 5 would signify Apple’s entry into the industry and spark some innovation in the field of NFC technology. Though Apple has revealed that the next iteration of its smart phone will not include NFC technology, there is still hope that iPhone users will be able to participate in mobile commerce.
Visa, RBS, and NatWest join forces to launch TouchPay
Visa has partnered with the Royal Bank of Scotland (RBS) and NatWest to bring mobile commerce services to owners of the iPhone 4 and 4S. Through this partnership, the companies have launched the TouchPay platform. TouchPay is a cover for the iPhone that is equipped with an NFC chip. The cover allows consumers to make mobile payments with their iPhone despite the fact that the mobile device itself does not make use of NFC technology.
TouchPay will give iPhone users a chance to participate in mobile commerce
Over 9,000 RBS customers have already signed up to make use of the new TouchPay platform. Once connected to an iPhone, consumers can store their financial information in the NFC chip embedded within the cover. This information will be updated in real time as consumers make changes to their online bank account. Currently, the platform supports only payments of $15 or less as a way to mitigate exploitation if a phone is stolen or lost.
TouchPay likely to boost consumer exposure to new concept
Apple may not be keen to enter into the realm of mobile commerce just yet, but consumers have shown their eagerness to do so. For iPhone owners in Europe, an opportunity to get involved in mobile commerce with soon be available. The TouchPay platform joins the ever growing arsenal of mobile commerce applications that are being released around the world and will contribute to exposing consumers to the concept and practice of mobile commerce.
