Looking back at it, there was no shortage of announcements during Apple's WWDC keynote on Monday. An all-new MacBook model, major updates to its desktop and mobile operating systems, and a new Maps app — not bad for an afternoon.
But amongst all of the oohs and ahhs of the new products and updates, there was one particular announcement that sort of flew under the radar. According to Apple, it now has more than 400 million active credit card-linked iTunes accounts...
Yeah, I know analysts promised us flying cars many times before, but bear with me for a second. In addition to opining that the time is not right for an Apple-branded television set until 2014 due to dire economic conditions, the same credible analyst also advised clients that a mobile payment platform from Apple is to be expected.
He calls it iPay and guesstimates it'll work with NFC technology believed to be in the cards for an upcoming iPad and iPhone hardware refresh…
NFC (near field communications) technology has been a rumored "upcoming" iPhone feature for quite some time now. It was supposed to turn up in last year's model (obviously it didn't). And of course it's expected in this year's release.
What's the big deal? Well NFC is the backbone of many mobile payment systems. And everyone is waiting for Apple to enter that space. But why wait for NFC, when you can pay wirelessly with your iPhone right now using Square?
In the months leading up to Apple's Fall iPhone announcement last year, we heard dozens of rumors that never materialized. Obviously the big one was that the handset was going to feature a major hardware redesign, but there were others.
NFC (Near Field Communications) compatibility is another rumor that never panned out. The iPhone 4S launched without any sign of NFC chipsets. But that doesn't mean that the next iPhone won't feature the technology...
I don't know if you've noticed, but we're big fans of Kickstarter here at iDB. And it seems that Kickstarter project creators like us, too. Apparently, thanks to iDB, a few thousand dollars have been raised for various Kickstarter projects, and we're pretty proud of that.
Today, we sit down with Keith White and talk to him about Trak, a mobile credit card reader for iPhone and iPad he intends to launch with a little help from Kickstarter.
Mobile payment solution Square has issued a big update for its Card Case iPhone app that takes advantage of the location-awareness features in iOS 5. Users can enable the geofencing feature in iOS 5 to make hands-free payments when 100 meters or closer to a store that supports Square.
This new feature allows you to basically start a tab somewhere, like a local coffee shop, and pay by telling a worker your name. Your Square ID automatically shows up on the merchant's iPad or iPhone Square app, and your purchase is charged to your account.
Google has finally unveiled its public service for mobile payments called Google Wallet. The NFC-based technology will initially work with select Android devices and participating merchants to give customers the ability to pay with their smartphones.
Short of a South Korean carrier offering an NFC-equipped iPhone case to customers, mobile payment technology has yet to make its name known on the iOS platform. Apple is expected to unveil an iPhone with an embedded NFC chip next year...
With circulating rumors that Apple will eventually introduce an iPhone with NFC technology, South Korean carrier KT Telecom is taking matters into its own hands. KT has launched the iCarte 420K NFC case for the iPhone 4.
Developed by Canadian company Wireless Dynamics, the $63 iCarte gives the iPhone Near Field Communications capabilities with the carrier's online payment service/digital wallet and South Korean credit card companies.
Lowe's home improvement is in the process of deploying 42,000 iPhones to employees to serve as portable payment systems in its retail locations throughout the US, according to Bloomberg. The iPhones will be used by Lowe's employees to help answer customer questions and handle transactions on the store floor.
If this sounds familiar, it's because Apple does the exact same thing with iPod touches in its retail stores. Has a retail trend begun?
A new study suggests that iPhone owners are the most likely to be open to the idea of mobile payment systems, according to GigaOM.
The study, conducted by UK firm YouGov, reported that 46% of UK iPhone owners would be willing to pay bills using their handsets, while 62% would happily transfer funds. 69% would check their balances, with 45% keen on using their iPhone to pay other people...
We've told you about the revolutionary mobile payment system for iOS, called Square. As a creation by Twitter's co-founder, Jack Dorsey, Square aimed at bringing mobile payments to the iPhone and iPad in a way that's never been done before.
As was unveiled yesterday, Square has introduced the next step in its path towards dominance of the mobile payment industry, called the Card Case. Instead of paying with a physical credit card or cash, why not just use an app and your own name?
The mobile payment industry has been rapidly developing. Companies like Square are starting to offer transaction services for payments through smartphones like the iPhone.
Square allows you to receive credit card transactions on the iPhone through their app and plug-in reader device. Apple is now selling Square readers in its online and retail stores. An interesting move, considering the iPhone 5 could have built-in NFC technology...