Apple’s latest iPhone could help bring mobile payments to the mainstream. 8 Things We Want In iPhone 6(Click image for larger view and slideshow.)The tech industry has made a number of attempts to ignite interest in mobile payments, and so far all have fizzled out. Apple, which might add such functionality to the iPhone 6, could change that.
Not only will the device have the necessary components for mobile payments, but Apple is also well positioned to debut its own mobile wallet. As Wired points out, Apple has more than 800 million credit cards on file through iTunes. Further, it has invested in its Bluetooth-based iBeacon technology and has a massive user base eager to adopt new technology. Apple has patented ways for NFC and Bluetooth to communicate with a “secure element” — needed to protect user identity and bank account data — within the device, and Apple has held discussions with payment companies in recent months.
All the pieces of the puzzle are lining up for Apple and mobile payments. If Apple is able to convince iPhone users to make mobile payments, perhaps other mobile payment services will see a boost, too.