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  • Apple to Add NFC Payment Hardware for iDevices & Retailers


    According to a recent Bloomberg report, we should see Apple incorporating "Near Field Communication" hardware in the iPhone 5 and iPad 2. This technology will allow the devices to send and receive information at a distance of up to 4 inches, allowing users to make payments directly from their device.

    The services are based on "Near-Field Communication," a technology that can beam and receive information at a distance of up to 4 inches, due to be embedded in the next iteration of the iPhone for AT&T Inc. and the iPad 2, Doherty said. Both products are likely to be introduced this year, he said, citing engineers who are working on hardware for the Apple project.
    Americans spend over $6.2 trillion each year on goods and services alone, and Apple want's a piece of that pie. By simply encouraging consumers to pay directly with their bank, much like how PayPal works, not only does it cut costs for Apple but also the retailers selling Apple products. Thus eliminating any extra credit card processing fees.

    Rumor has it that Apple has already begun making prototype payment terminals that would be used for small businesses to scan an NFC-enabled iPhones or iPads. These potential outlets would be subsidized or even given away to encourage companies to use the services they are providing.

    It's nothing new really, paying with your mobile phone. However, its interesting to see where this would go for small business and even larger ones as well, and what type of impact it could have on the Apple market. My only worries would be having my phone stolen and someone having a shopping spree.

    Sources: Bloomberg
    This article was originally published in forum thread: Apple to Add NFC Payment Hardware for iDevices & Retailers started by nickhesson View original post
    Comments 9 Comments
    1. javiert30's Avatar
      javiert30 -
      Im pretty sure it's going to have some kind of security like a case sensitive password or something like that.
    1. hitman10's Avatar
      hitman10 -
      I dont know much but couldnt i go into the phone and change my balance from 100 to 1000 and trick it? maybe thats why they brought that NSA guy on board. He probably not even interested in stoping the jailbreak.
    1. steve-z17's Avatar
      steve-z17 -
      I foresee security liabilities with this..
    1. wolverinemarky's Avatar
      wolverinemarky -
      cool feature not sure how often i would use it
    1. wilson's Avatar
      wilson -
      It's a cool idea. I think the Japanese use it a lot. Great for public transportation, venting machines, supermarkets and 7-11 type of stores. If the item cost less than $10 no password required. Over $10 or a set amount the user has to enter a password or a finger print scan.
    1. CX3NT3_713's Avatar
      CX3NT3_713 -
      Quote Originally Posted by hitman10 View Post
      I dont know much but couldnt i go into the phone and change my balance from 100 to 1000 and trick it? maybe thats why they brought that NSA guy on board. He probably not even interested in stoping the jailbreak.
      Yea maybe....
    1. z28kid's Avatar
      z28kid -
      awesome, I'd like to give this a shot..
    1. EskimoRuler's Avatar
      EskimoRuler -
      Quote Originally Posted by wilson View Post
      It's a cool idea. I think the Japanese use it a lot. Great for public transportation, venting machines, supermarkets and 7-11 type of stores. If the item cost less than $10 no password required. Over $10 or a set amount the user has to enter a password or a finger print scan.
      that sound like a good idea for really quick purchases
    1. sadsamurai's Avatar
      sadsamurai -
      Quote Originally Posted by wilson View Post
      It's a cool idea. I think the Japanese use it a lot. Great for public transportation, venting machines, supermarkets and 7-11 type of stores. If the item cost less than $10 no password required. Over $10 or a set amount the user has to enter a password or a finger print scan.
      Yep, it's been a standard feature on J. only cell phones for years.
      They use it to pay for small items in many places mentioned above including train and subway fares.
      Just place your phone on the subway gate and off you go, they are so good at it they don't even slow down, much faster then me fumbling for my ticket as I have the iPhone.
      In 7/11, which by the way is a huge Japanese company with over 10,000 stores in Japan lest anyone think it is American, there is a terminal, you scan your item, wave your phone or Suica(cash) card over the terminal and off you go.
      Apple the great innovator. Not.
      More like "We copy just as much as the next guy".