What is Apple’s strategy for competing with Google Wallet?

Apple vs Android mobile marketing

iphone vs Android
Industry experts primarily believe that the ever-elusive Apple has been looking into the use of near field communication (NFC) technology as a part of its upcoming iPhone and iPad devices for authorization systems to compete with Google Wallet and other mobile payment systems.

Though this has not been confirmed, what many are wondering is why the company hasn’t yet openly acknowledged their exploration of this technology to convert the iPhone into a mobile wallet. The common assumption at the moment is that Apple is leaving it up to its nemesis, Google, to take on the challenge of making mobile payments into a mainstream technology.

It does appear that Apple intends to let Google do all of the hard work so that it can take advantage of leading from behind.

NFC technology has exceptionally high potential, and devices that have been enabled with it can already be used as boarding passes, wallets, tour guides at museums, event tickets, tools for taking stock, and a great deal more. The number of people and businesses embracing NFC is growing, and the majority of them are ready to support this technology.

However, its deployment is not without its obstacles, including:

• There has yet to be an industry standard for payment processing, so that systems and terminals face compatibility issues
• Competition among banks keen to take on the standard but that are not yet willing to remove their current credit card processing dominance
• Consumers have yet to be convinced of NFC payment security
• Smaller businesses need to be shown that NFC payment processing systems are worth the investment

Leave a Comment


This site uses Akismet to reduce spam. Learn how your comment data is processed.