Experts Mixed on Apple’s Role in Mobile Payments
A story in the Washington Post hinting that Apple may incorporate a fingerprint scanner in its new iOS 7 mobile operating system, and that this might make users more comfortable with mobile payments, has provoked different reactions among experts. “Apple acquires patents all the time, and none of [the latest speculation] points to mobile payments,” says IDC’s James Wester. On the other hand, consultant David True says this latest news signals that Apple could be lining up the pieces for a mobile payments service. Despite the Post’s speculation that an iPhone-based mobile payments service will “add a ton of mobile-payment-ready customers to its ranks, which in turn could spur greater adoption of mobile payments overall,” the Mac Observer counters that such a launch requires agreements with merchants, and thus far there are no rumors of negotiations. Wester notes that biometric-based security will not be any better than what safeguards are already embedded within the iPhone, raising doubts that the fingerprint scanner will impact mobile payments. True says resolving the authentication challenge would address the chargeback problem for merchants, but Narian Technologies CTO Einar Rosenberg cannot see a direct association between biometrics and mobile payments.
From “Experts Mixed on New iOS Role in Mobile Payments”
Mobile Payments Today (08/06/13) Stemle, Cary