If you are like me you bring a credit card or cash to the gym or on your run for expected and unexpected purchases (snacks/drinks before, during or after their workout, payment for your class or payment for your a ride home when you’ve run a little too far from home, etc.). The problem is figuring out where to store your credit card or cash to avoid losing them. Based on news reports, our days of worry may be numbered.
News sites including CBS and Bloomberg are reporting from their sources that Apple has reached an agreement with AmEx, Visa and MasterCard for a new payment system that will turn the iPhone 6 into your digital wallet. The system is rumored to use near-field communication (or NFC) along with Apple’s Touch ID fingerprint scanner. While NFC is not new technology, it has not been widely adopted by credit card processors, consumers and retailers. Apple shied away from incorporating NFC in earlier iPhone models which may have been one factor delaying NFC’s widespread adoption. Widespread adoption of NFC may change now that Apple is in the game.
Love it or hate it, Apple drives a lot of standards in the industry….They are the mover in these markets. When they do something, the industry seems to follow.
-Ben Bajarin, Analyst for Creative Strategies LLC
It is about time that Apple added the convenience of NFC to its products. Apple will hopefully lead the payment processing and tech industry into the use of NFC.
Learn more about NFC and its many uses:
With only seven more days until Apple’s iPhone 6 event the rumors will continue to swirl and the excitement surrounding Apple’s expected announcements will continue to build. Only time will tell what Apple has in store for us on September 9.