Apple goes bananas for Mobile Payments. Soon.

On Sept 9th Apple is going to release a better way of paying for goods on your iPhone using NFC. In secret last month I saw a new way of paying on your mobile with the NFC and an app. Seeing the ease and speed of this payment made with NFC and a mobile wallet was pretty amazing. You just hold your iPhone over a funny shaped plastic lump with a beam coming out of the top and the payment is made. Its called iBeacon and scans for nearby devices with the NFC chip so it can ‘talk’ to it.

My guess is Passbook app on the iPhone will be used to store your Debit or Credit Cards and then you can use the Passbook with any place that has Beacon devices. Like Starbucks or Costa Coffee.

Then these retail places will ping you vouchers when you walk pass them. You can redeem the pinged voucher and pay by just tapping your phone on the iBeacon. It will be easy, but this could get annoying to receive messages as you walk down the street!

The question is will people use it? My guess is like Contactless payments it will be in bigger retailers and the smaller ones will take a long time to get the technology, and in many cases the economics of having the Beacons and vouchers wont make sense.

Also Apple will debut its card scanner on Safari webpages which means you can just hold you card up to your phone to scan the card to make it quicker to pay on webpages on your iPhone or iPad. Its how we’ve pioneered quicker and faster payments with our merchants with SmartTrade.


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