Apple's big push with the iPhone 5 could be NFC and mobile payments, Visa and MasterCard all cheers

Apple's big push with the iPhone 5 could be NFC and mobile payments, Visa and MasterCard all cheers
The rumors about Apple's next iPhone including NFC and a heavy push into mobile payments subsided when the iPhone 4S was unveiled, alongside many other whispers, but are now been resurrected again as we head into this year's iPhone expectations.

Apparently Apple's iOS software engineers are involved in NFC support development, and app makers in the know are creating mobile payment apps themselves, to be ready when the NFC-equipped handset hits.

Still, if this thing is about to take off, it will need the support of a large payment processing company, like Visa or MasterCard, since we saw what happened with the carrier-backed ISIS system, whose aspirations were scaled back significantly, when it became clear it can't fight those two payment behemoths and their own mobile payment plans.

When asked whether Apple is working on a contactless payment system of its own, MasterCard's Ed McLaughlin said yesterday: "Um, there are...like I say, [I don't know of] any handset maker out there. Now, when we have discussions with our partners, and they ask us not to disclose them, we don't". Answering whether Apple's foray into this market will facilitate the mobile payments take-off, he added: "Well, anytime someone with a major base moves forward, it advances what you're doing. So of course."

Visa, on the other hand, was not so subtle in its answers recently: "I can't tell you when Apple is going to put NFC in the next version of the iPhone," said Bill Gadja, the head Visa's Mobile Product department, "but we've had discussions with them around the PayWave standard and they've asked to look at our specification and certification process so that when they decide to do something those lines of communication are open."

Putting two and two together, Apple's next iPhone iteration, except the year-old rumor of a major redesign in comparison with the 4S, could also "revolutionize" the mobile payments by bringing it mainstream, the way it is altering the perceptions about voice command software with Siri.

source: 9to5Mac & Fastcompany

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11 Comments

1. andro.

Posts: 1999; Member since: Sep 16, 2011

what a phone with nfc????? Yes apple is certainly going to revolutionise everything again by inventing and being the very ever first phone to have nfc in it,any rumours of other phones having it almost year before apple is lies against apple. This changes everything again! The iphone 5 will certainly revolutionise the phone industry again by introducing an brand new apple invention called LTE,people everywhere will marvel at the brilliance of apple being the first to bring it to the market. Ifans will rejoice at the marvel of apple and some will continue to egg themselves and others in angry qs if they don't get an iphone on the day they want it

2. karanstyle

Posts: 188; Member since: Jun 26, 2011

Nokia was the first one to bring up NFC. Not some Apple or Apricot... :-D Nokia has already sold a millions of NFC enabled devices in last quater alone, where Apple is still talking to bring in the idea of NFC.

10. Baseballer

Posts: 132; Member since: Dec 07, 2011

I honestly think with all the success apple is having, they should be the one's to get nfc going, then everyone else feed off of the success and its a win-win for all

5. spiderpig2894

Posts: 597; Member since: Jan 10, 2012

apple? the FIRST? to use the NFC??? WTF

6. cajd83

Posts: 1; Member since: Jan 31, 2012

......Sarcasm.....

8. E.N.

Posts: 2610; Member since: Jan 25, 2009

Well you can't say that Android or Nokia is doing a fairly good job in making NFC a standard. In the US at least, its as good as nonexistent.

3. ghost__uwi

Posts: 175; Member since: Nov 28, 2011

Nokia is just doing a crappy job at it.

4. qwertyme

Posts: 1; Member since: Jan 31, 2012

LOL nice one man... yeah your right about that, Nokia is the first on NFC... :D

7. jamrockjones

Posts: 345; Member since: Oct 26, 2011

I hope they do put a NFC chip in their phone because it really will speed the mobile payment process along. People will think it's so revolutionary but that's just cause they don't know anything about cell phones.

9. xupru

Posts: 17; Member since: Nov 21, 2011

Best thing that could happen for Android phones with NFC is... an IPhone with NFC. Just because IPhones will be bought regardless of its specs, and therefore will mainstream NFC when released, stores/developers will flock to accomodate it... and we'll finally have a use for the NFC chips on Android lol

11. Skidro13

Posts: 65; Member since: Jul 27, 2010

That was very well said @xupru. Anyways, I have had google wallet on my VZW Gnex since the week it was released. It works great! The only problem is that I can only use it at BP or McDonalds... (jack'n the box has readers but they can't figure them out) It will be really annoying to hear all of the loyal iphone buyers rave about their "new" nfc technology, but it will be worth it having more businesses adopting it.

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