Apple is preparing to launch an 'iWallet' app allowing customers to easily for with theit mobile phone, it has been claimed.
The project is believed the already have Visa on board, and is expected to use the firm's Touch ID fingerprint sensor to verify a customer's identity.
The app could launch in the Autumn alongside Apple's new iPhone 6.
Put away the credit card! Apple is believed to be working on an iWallet app to allow users to easily pay with their phone
According to tech blog The Information, 'conversations between Apple and payments-industry companies have heated up in recent months.'
It claims 'several people briefed on the talks say that Apple executives have discussed launching a mobile “wallet” as soon as this fall for people to use their iPhones to pay for goods in physical stores.'
According to the report, new phones will include a ‘secure element’ to store such sensitive data.
The service will also run without any intervention by mobile phone firms.
Apple has told some partners its system would involve a so-called secured element in the phones—a piece of hardware where sensitive information such as a phone owner’s financial credentials can be stored.
This expected to be the same secure system currently used to store fingerprint information, which is also set to store health data.
Earlier this month Visa launched a new service called Visa Checkout that eliminates a few steps in online payment.
The company and its retailing partners, including Neiman Marcus, Pizza Hut, Staples and others, hope a quicker payout will lead to fewer abandoned shopping carts online.
Apple has told some partners its system would involve a so-called secured element in the phones¿a piece of hardware where sensitive information such as a phone owner¿s financial credentials can be stored.
As more customers shop on smaller screens like smartphones and tablets, the hassle of entering in credit card numbers and billing addresses is becoming a sticking point and payment processors have been working to find ways to simplify the process.
Visa Checkout joins similar services like eBay's PayPal, MasterCard's MasterPass, Amazon's one-click checkout and others.
Visa has been working to expand its reach into the payments processing business with new products like Visa Checkout.
The company is also opening a technology center in San Francisco in an effort to court mobile developers in the Bay Area tech community.
It plans to hire 100 new technology staffers for the center.
Credit to Mail Online
Read more: http://www.dailymail.co.uk/sciencetech/article-2706325/Could-iPhone-replace-wallet-Apple-talks-credit-card-firms-iWallet-app-replace-credit-cards.html#ixzz38eWfdg6g
No comments:
Post a Comment