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Apple reportedly teaming up with Amex, Visa and MasterCard for iPhone Wallet

Posted: , by Alan F.

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Apple reportedly teaming up with Amex, Visa and MasterCard for iPhone Wallet
Your next Apple iPhone will double as a wallet, if speculation about partnerships between Apple and a trio of well known credit card companies is true. On Sunday, rumors starting spreading that Apple was going to announce partnerships between itself and American Express, Visa and MasterCard. The partnerships are expected to be announced during the same September 9th event that will finally out the Apple iPhone 6, said an anonymous source who wished to remain unknown because the talks are private.

This rumor ties in with other speculation. Just the other day, we passed along a rumor that claimed that the Apple iPhone 6 was going to feature NFC connectivity and a new mobile payment system. The latter is something that Apple CEO Tim Cook has been interested in for a long time. Currently, there is a case made for select versions of the iPhone, that turns it into a mobile wallet using an NFC micro-chip and a free ISIS mobile wallet app. ISIS is the service owned by AT&T, Verizon and T-Mobile.

A feature that might make the iPhone a useful mobile wallet, is the Touch ID fingerprint scanner. Touch ID could be used to verify the identity of someone making a payment using the handset. For Apple, it is all about generating revenue. With over 800 million iTunes accounts, all with payment information on file, Apple might be set to make a bundle. It is estimated that Apple could generate $300 in advertising revenue for each mobile wallet account it opens.

"There’s huge potential with Apple having a market-defining opportunity. However, there’s lots of moving parts in payment that make the deals they did with artists and Hollywood for iTunes look like child’s play."-Richard Crone, CEO, Crone Consulting LLC

source: Bloomberg

48 Comments
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posted on 31 Aug 2014, 18:13 1

1. Jinto (Posts: 399; Member since: 15 Jan 2014)


What? Apple collaborating with other companies?

posted on 31 Aug 2014, 18:35 7

5. superduper (Posts: 150; Member since: 20 Oct 2013)


IBM, ARM, TSMC, Intel, Microsoft, Sony, Google, Samsung... Apple collaborates with many companies.

posted on 31 Aug 2014, 18:39 6

6. g2a5b0e (Posts: 2185; Member since: 08 Jun 2012)


I have never & I will probably never own an Apple product, but I see no reason to hate on them. That comment makes no sense. Thanks for showing how stupid it is.

posted on 31 Aug 2014, 18:59 3

11. vincelongman (Posts: 1180; Member since: 10 Feb 2013)


Agreed,
Also NFC isn't widely supported because iPhones didn't have it
If the iPhone 6 has NFC, there will defiantly be an increase in thing using NFC, which benefits all users

posted on 31 Aug 2014, 19:51 4

18. darkkjedii (Posts: 11366; Member since: 05 Feb 2011)


100% agreed, it'll bring NFC to millions more, and push it further into the mainstream.

posted on 31 Aug 2014, 21:34 2

33. Finalflash (Posts: 1761; Member since: 23 Jul 2013)


NFC is widely supported, just not in the US (it has some support). The only thing disappointing in this rumor is if Apple actually partners with those retarded carriers. I hope they sideline the carriers completely because those monopolist a-holes only serve to ruin customer experiences. Apple is the only company that can bypass them and keep control of the process. I hate it when non-tech companies start holding back tech innovations because they're monopolists hell bent on exploitation (talking about the carriers in case ppl get confused).

posted on 01 Sep 2014, 03:02

45. hurrycanger (Posts: 1123; Member since: 01 Dec 2013)


Yup. Retarded carriers. I guess you're referring to ISIS mobile payment right? It's annoying how you need to get an isis sim card, maybe an American Express Serve account, your phone has to be supported by the carrier (even though some unsupported phones clearly have the hardware to do NFC payment), and that phone needs to be used with that one carrier even if it's unlocked.

posted on 01 Sep 2014, 10:26

47. darkkjedii (Posts: 11366; Member since: 05 Feb 2011)


I can't wait to see your face to face sit down with Mr. Cook.

posted on 31 Aug 2014, 22:48 1

40. SPASE (Posts: 84; Member since: 03 May 2013)


mate,,, down here in OZ, NFC is all over the place.
we have been using Tap & Go / Pay Pass for some time now, haven't used my visa or debit card for almost a year, just my sammy phone ;)

posted on 31 Aug 2014, 23:27 2

41. Tekkasonic (Posts: 10; Member since: 31 Jul 2012)


So you think just because its not on an iphone it does not have market share... BWAHAHAHAHAAHA...

posted on 31 Aug 2014, 21:42 2

34. InspectorGadget80 (Posts: 6497; Member since: 26 Mar 2011)


here we go. first credit card companies doesn't want to use GOOGLE NFC now they are collaborating with APPLE? CORPORATE GREED

posted on 01 Sep 2014, 03:52

46. superduper (Posts: 150; Member since: 20 Oct 2013)


Yeah. Wouldn't it be great to have every single purchase linked to your Google Account? Then Google will know what you're having for dinner. Soon you'll be seeing ads for organic carrots everywhere and you won't know why.

No thanks.

posted on 31 Aug 2014, 18:16 4

2. fzacek (Posts: 1672; Member since: 26 Jan 2014)


Typical Apple hungry for more profit...

posted on 31 Aug 2014, 18:23 14

3. g2a5b0e (Posts: 2185; Member since: 08 Jun 2012)


Typical fzacek, making stupid comments. Clearly, Apple is the only company in the entire world trying to make money. I guess they are the only company who understands how a business is supposed to work.

posted on 31 Aug 2014, 18:31 4

4. Vexify (banned) (Posts: 570; Member since: 16 Jun 2014)


He doesn't understand how a company works. At least he has something in common with those companies.

posted on 31 Aug 2014, 19:57

21. The-Sailor-Man (limited) (Posts: 885; Member since: 25 Mar 2014)


You missed the part in the article, that this is only rumors. And the apple's propaganda bashing NFC. Right?

posted on 31 Aug 2014, 20:03

24. g2a5b0e (Posts: 2185; Member since: 08 Jun 2012)


I have no idea what you're talking about. My comment was meant sarcastically if that helps.

posted on 31 Aug 2014, 18:52 1

10. fanboyoftech (Posts: 25; Member since: 30 Aug 2013)


Well said! Both your comments are great actually. Nice to see someone with some common sense on here.

posted on 31 Aug 2014, 18:44 6

8. InsertUsernameHere (Posts: 2; Member since: 31 Aug 2014)


I guess Apple isn't allowed to make money, even though that's the whole point of a business.

posted on 31 Aug 2014, 20:00

22. The-Sailor-Man (limited) (Posts: 885; Member since: 25 Mar 2014)


Yes they are allowed. And also the apple propaganda is allowed bashing NFC.

posted on 31 Aug 2014, 19:12

12. darkkjedii (Posts: 11366; Member since: 05 Feb 2011)


Please explain.

posted on 31 Aug 2014, 19:17 1

13. fzacek (Posts: 1672; Member since: 26 Jan 2014)


"For Apple, it is all about generating revenue. With over 800 million iTunes accounts, all with payment information on file, Apple might be set to make a bundle. It is estimated that Apple could generate $300 in advertising revenue for each mobile wallet account it opens."

posted on 31 Aug 2014, 19:24 4

15. g2a5b0e (Posts: 2185; Member since: 08 Jun 2012)


You're about as naive & idiotic as they come if you don't think most every other company out there feels the same way. People just hate on Apple because they are the most successful at it.

posted on 31 Aug 2014, 19:50 1

17. darkkjedii (Posts: 11366; Member since: 05 Feb 2011)


Well said, he coulda just said: apples another very successful company, and left it at that.

posted on 31 Aug 2014, 19:47 2

16. darkkjedii (Posts: 11366; Member since: 05 Feb 2011)


Horrible explanation. That's the business model of every for profit business on earth. I thought you were gonna tell us something we didn't know. Apples in the business of making as much money as possible, bro that's news to me.

posted on 31 Aug 2014, 19:51 3

19. g2a5b0e (Posts: 2185; Member since: 08 Jun 2012)


Right, man. He clearly doesn't understand the difference between a business & a charity.

posted on 31 Aug 2014, 20:03 1

25. The-Sailor-Man (limited) (Posts: 885; Member since: 25 Mar 2014)


I didn't understand apple's propaganda bashing NFC, though.

posted on 31 Aug 2014, 20:11 3

27. darkkjedii (Posts: 11366; Member since: 05 Feb 2011)


I googled Apples bashes NFC, and couldn't find anything. Care to provide a link?

posted on 31 Aug 2014, 20:39 1

28. nctx77 (Posts: 506; Member since: 03 Sep 2013)


Apple never bashed NFC. Phil did say back in 2012 that he didn't see the benefit of it at that time or something like that. You are seriously making things up. Also, I believe they will be using it for other things like homekit etc.

posted on 31 Aug 2014, 20:47 1

32. nctx77 (Posts: 506; Member since: 03 Sep 2013)


To add to my other comment. They probably wanted to nail down Touch ID before messing with Touch ID. Android has had the chip for a while, but security was always a concern. I think this is the biggest reason NFC hasn't taken off.

posted on 31 Aug 2014, 18:43 2

7. InsertUsernameHere (Posts: 2; Member since: 31 Aug 2014)


Can't wait for the iPhone 6 to come out.

posted on 31 Aug 2014, 18:51 2

9. arsenaljimenez (Posts: 139; Member since: 03 May 2012)


Awesome, more incentive for a thief to steal peoples I phones...

posted on 31 Aug 2014, 19:19 3

14. nctx77 (Posts: 506; Member since: 03 Sep 2013)


I guess they didn't want the NFC capable android phones. See how stupid your comment was?

posted on 31 Aug 2014, 20:02 1

23. Rocket (Posts: 21; Member since: 24 Feb 2014)


I will continue using my plastic cards instead of my phone till when the stores stop accepting em.

posted on 31 Aug 2014, 20:05 1

26. The-Sailor-Man (limited) (Posts: 885; Member since: 25 Mar 2014)


This!
There are so many other great ways to use NFC

posted on 31 Aug 2014, 20:39

29. Liveitup (Posts: 1237; Member since: 07 Jan 2014)


That's true, but having this is a good option.

posted on 31 Aug 2014, 22:08

36. stealthd (Posts: 967; Member since: 12 Jun 2011)


No one said phones will completely replace other forms of payment. But regardless magnetic strip cards are on the way out. They just aren't as secure. Even if you aren't going to use your phone for payments, you should definitely look into the cards with chips, as they're way more secure.

posted on 31 Aug 2014, 20:41 1

30. 0xFFFF (Posts: 3064; Member since: 16 Apr 2014)


One thing that seems to have changed for Apple during the Tim Cook era is their willingness to sell their customers' personal data to grow Apple's revenues.

Recently, they've been in the news regarding their deals for selling HealthKit data to insurance companies.

Now it seems they are in position to sell data to advertisers (and presumably others) about all the payment accounts used and transactions made using the "iWallet".

Steve Jobs seemed to be more of a "sell beautiful products and make good money" CEO whereas Tim Cook is more of a "do anything for money" CEO.

In times ahead, it'll be interesting to see how Apple navigates through some of their longstanding brand promises, including respecting the privacy of their customers.

posted on 31 Aug 2014, 22:15 2

37. stealthd (Posts: 967; Member since: 12 Jun 2011)


There's been no shift in position. Does it really seem odd that they'd be talking to health insurance companies about an app that tracks fitness and gives health recommendations? Health insurance companies might offer discounts to people that exercise and stay healthy. They make more money off of healthy people you know. Saying they intend to sell data is just baseless speculation.

posted on 01 Sep 2014, 00:16 1

43. 0xFFFF (Posts: 3064; Member since: 16 Apr 2014)


"Health insurance companies might offer discounts to people that exercise and stay healthy."

And insurance companies, to offer discounts, need to create actuarial baselines using health data. In order for this to be done, they need all the data, not just a few people who opt in.

posted on 31 Aug 2014, 22:36 1

38. AlikMalix (Posts: 467; Member since: 16 Jul 2014)


0xfffff, Dude you're trying too hard. I'd actually recommend a health app incase you get a hemorrhoid trying to push the biggest bull sh!t I've ever read. I tried giving you the benefit of doubt when I joined these threads - but I can see you're just a hating troll.

Anyway to block some peoples posts completely?

posted on 01 Sep 2014, 00:17 1

44. 0xFFFF (Posts: 3064; Member since: 16 Apr 2014)


Lol... Sounds like you are awfully worked up, little fanboy. You should run to your uncle Timmy and maybe you can sit on his lap.

posted on 01 Sep 2014, 10:31 1

48. darkkjedii (Posts: 11366; Member since: 05 Feb 2011)


He's not worked up, his post was spot on. You simply come here to get people worked up with those childlike posts you make, to start trouble.

posted on 31 Aug 2014, 22:41

39. AlikMalix (Posts: 467; Member since: 16 Jul 2014)


Will this work with ATM cards that have Visa, Amex, etc logo on it?

posted on 31 Aug 2014, 23:32 3

42. Tekkasonic (Posts: 10; Member since: 31 Jul 2012)


By the way.. if you haven't used ISIS.. It sucks. the only card they support right now is AMEX, AMEX Serve, and Chase... all "other cards" use amex serve as a midway... and you have to have a special SIM card, Plus who wants to support islamic terrorism...
I liked the OG Google Wallet, but thanks to big money they screwed that up, but now we have hosted NFC and google can put a big fork you to them... /handclap google

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