As the smartphone become more
ubiquitous it makes sense for it to be at the heart of everything we do,
including paying for goods. Now, Time Cook, Apple's CEO, has dropped a rather
massive hint that Apple is looking at a mobile payments system, which could
launch with the iPhone 6.
Reported by [a
href="http://business.time.com/2014/01/30/apples-next-big-thing-could-be-allowing-you-to-easily-pay-for-stuff/"],
Cook told investors on a recent earnings call, "You can tell by looking at
the demographics of our customers and the amount of commerce that goes through
iOS devices…that it’s a big opportunity on the platform."
The question is, how will Apple
approach this. Current mobile payments systems rely on NFC. There are plenty of
NFC readers in shops now, providing contactless payments via card and phone for
transactions of up to £20. However, Apple has so far shunned NFC, refusing to
introduce the technology in any of its smartphones or tablets.
Following this, we could assume
that Apple will want to go its own way. On its side is the fact that Apple is
actually already one of the biggest companies dealing with mobile payments,
thanks to the collection of credit card details and payments it processes
through iTunes and the App Store. It would make sense for Apple to find a way
to open up its systems and start letting people pay for goods in stores.
One way it could do this is
with iBeacon. This indoor positioning system uses Bluetooth Low Energy (BLE),
letting low-cost transmitters advertise their presences to iOS 7 devices. For
example, the system can be used to broadcast offers in a shop alongside a
payment system. In fact, Apple already uses this technology in its stores to
let customers pay for goods without having to approach a till.
Apple could roll out iBeacon to
other shops, making it an addition, not replacement, to NFC terminals. The
benefit of Apple's system, particularly if used with verification, such as
through TouchID, is that it could allow transactions of any value, rather than
the £20 limit of today.
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