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Old May 29, 2014, 08:28 PM   #1
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Apple in Talks With Retailers About Mobile Payments Service




Apple is in talks with several high-profile retail store chains about a mobile payment service, reports 9to5Mac. Citing a source with knowledge of the discussions, the site suggests Apple is speaking with retail store brands that sell luxury clothing and premium goods to gauge interest in such a service.

An Apple-branded mobile payment solution would likely be integrated directly into iOS devices, allowing people to use their iPhones or other devices to make purchases for physical goods both on the web as well as in retail stores. Currently, iTunes customers can use their accounts to make purchases in iTunes and in brick and mortar Apple Stores, a feature Apple hopes to expand to third-party retailers.

Discussions with retailers have reportedly focused on the difficulties behind building a unified payment service to be used with multiple retail outlets, with Apple also encouraging retailers to adopt the company's Bluetooth-based iBeacons, which could potentially be used as part of a payments service in the future.
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Every retail outlet has unique payment and transaction practices, so building a single mobile payments solution will require extensive research from Apple, and the company appears to be in that research and development phase.

Apple has also been asking retailers to survey customers regarding potential interest in paying for items with their smartphones and other mobile devices. Apple also has been seeking general insight from retail store chains to see if the companies would be interested in utilizing an Apple payments service.
Apple's interest in a possible mobile payment solution has been rumored for years, but gained renewed attention in early 2014, after The Wall Street Journal reported Apple was looking to develop a mobile payment service to leverage its store of more than 800 million iTunes accounts, many of which have credit cards attached.

In April, the company was said to be in talks with several senior payments industry executives about possible roles at the company and Apple has also spoken with Paypal about a possible partnership.

According to Apple CEO Tim Cook, a mobile payment solution was "one of the thoughts" behind Touch ID. He has also said that Apple is "intrigued" with mobile payments, noting that there's a "big opportunity on the platform."

Apple has promised new hardware, software, and services in 2014, and it is possible that a mobile payment service could come later this year, though a set date is unclear as the company is still in the developmental stages.

Article Link: Apple in Talks With Retailers About Mobile Payments Service
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Old May 29, 2014, 08:29 PM   #2
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NFC Pl0X??
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Old May 29, 2014, 08:30 PM   #3
Revearti
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Sold. I want my phone to be my wallet.
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Old May 29, 2014, 08:33 PM   #4
The Doctor11
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This would be great. I think if apple had a mobile payment service that would be awesome and be very useful.

Oh god here come all the "this is NFC" comments
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Old May 29, 2014, 08:33 PM   #5
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Originally Posted by Revearti View Post
Sold. I want my phone to be my wallet.
Not going to fly until states start issuing digital drivers licenses and IDs.
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Old May 29, 2014, 08:36 PM   #6
casperes1996
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I really want this

I really can't wait for a future where all my transactions go trough my iTunes account, and I have to carry no cash, credit card, or anything but my phone... And 600 extended battery cases, so I don't get stranded with no money.
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Old May 29, 2014, 08:36 PM   #7
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Tim, Please buy Square. Their CashRegister is already based on the iPad. And I love everything they do. This is the way to go. That will allow you to integrate the square wallet with passbook and ibeacons and boom you have a solid service that already accepts all the credit cards and allows the phone to be a wallet.

Make this happen, Tim, Pleeeeeezzzzzzz
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Old May 29, 2014, 08:38 PM   #8
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What, still?
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Old May 29, 2014, 08:40 PM   #9
bigchrisfgb
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In my opinion they need to target other retailers than just those who sell luxury items. Every day stores and big chains need to be signed up first, once you sign them up the rest will fall.

I also hope they sign deals outside of the USA as well.
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Old May 29, 2014, 08:40 PM   #10
Menel
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Originally Posted by ArtOfWarfare View Post
Not going to fly until states start issuing digital drivers licenses and IDs.
Wouldn't be a huge leap, they already have 2D barcodes on the back for TSA/bar scanning.
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Old May 29, 2014, 09:02 PM   #11
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If I get higher cash back than I do with my Amex, I'll think about it.
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Old May 29, 2014, 09:44 PM   #12
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NFC Pl0X??
phr33 st00f pl0x

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Old May 29, 2014, 10:05 PM   #13
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Quote:
Originally Posted by Revearti View Post
Sold. I want my phone to be my wallet.
same!
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Old May 29, 2014, 10:18 PM   #14
Analog Kid
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Originally Posted by Revearti View Post
Sold. I want my phone to be my wallet.
I still don't see the point of all this. Is it faster, easier, more secure? Am I the only person left who wants their phone to be a phone and their wallet to be their wallet? Are plastic credit cards just too big and heavy to carry around anymore?
Quote:
Originally Posted by jjmcpherson View Post
If I get higher cash back than I do with my Amex, I'll think about it.
Cash back is the biggest scam ever. You get a percent or three discount on purchases, but they charge vendors 5%. By incentivizing you to use the card, Amex gets to skim more off of the vendors profits. It would be in the vendor's interest to give you a 4% discount for using cash, but differential pricing is forbidden by most vendor agreements.

Leaches on the free market...
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Old May 29, 2014, 10:37 PM   #15
djam
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Why does it have to go through an Apple account? I'd far rather NFC and be able to use my banks app to pay.

I feel there are going to be a lot of other people that think this way too.
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Old May 29, 2014, 10:39 PM   #16
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Originally Posted by ArtOfWarfare View Post
Not going to fly until states start issuing digital drivers licenses and IDs.
I see what you did there! But at least I don't have to print out my boarding pass any more.

And until the IDs and ATM cards go digital, I'll have to be satisfied with a thinner wallet.
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Old May 29, 2014, 11:01 PM   #17
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Originally Posted by Analog Kid View Post
Cash back is the biggest scam ever. You get a percent or three discount on purchases, but they charge vendors 5%. By incentivizing you to use the card, Amex gets to skim more off of the vendors profits. It would be in the vendor's interest to give you a 4% discount for using cash, but differential pricing is forbidden by most vendor agreements.

Leaches on the free market...
how do gas station get away with charging 10 cents more per gallon with a credit card then? the way it was explained to me is that the credit card price is the actual price and they are giving you a discount if you pay cash. That way they can't say it's extra for a credit card its just that it is less if you pay cash.

----------

i still think this is such a great idea ... https://onlycoin.com

i wouldn't mind if i had to carry around just the 1 card and i could fit it inside of the cell phone case that has the card carrier built in the back.
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Old May 29, 2014, 11:31 PM   #18
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Still probably a year or two off. If NFC appears in iphone6 as has been suggested by an analyst then we may see it in use in high end stores or limited use.
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Old May 29, 2014, 11:50 PM   #19
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There's like 60 different kinds of wallet cases on amazon. Before they started making them in china I used to make my own and they add hardly any more bulk than a regular case. My phone has already been my wallet for nearly a decade. Cards and cash work just fine and never need recharging.
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Old May 30, 2014, 12:05 AM   #20
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One thing I don't get about these new payment methods is that iTunes account is linked to a credit card. That means that there are fees to the credit cards and the cut for Apple. So, how does this extra layer of payment helps us customers?

Will Apple eventually come up with its own direct payment system without credit cards?
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Old May 30, 2014, 12:27 AM   #21
engg2000
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This is a brilliant move by Apple.

Right now, chip cards allow "Tap to Pay" but that is totally insecure. If the card was linked to the Apple NFC chip, the user could tap to pay and validate with the finger print...no passcode to key in, no worry about a camera planted above or someone looking over your shoulder to steal your passcode.
You would also be able to link any of your chip credit cards or check/debit cards to the phone and use an app to select which one to use (similar idea to Coin but not obsolete...mag stripe?).
Sure hope this will be implemented with the next iphone.

M
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Old May 30, 2014, 12:50 AM   #22
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Why does it have to go through an Apple account? I'd far rather NFC and be able to use my banks app to pay.

I feel there are going to be a lot of other people that think this way too.
Think Apple ID and hundreds of millions of cards Apple has on file. Think Touch ID.

----------

Quote:
Originally Posted by AppleHater View Post
One thing I don't get about these new payment methods is that iTunes account is linked to a credit card. That means that there are fees to the credit cards and the cut for Apple. So, how does this extra layer of payment helps us customers?

Will Apple eventually come up with its own direct payment system without credit cards?
It's a good question. Direct deposit from bank account to Apple? Isn't that a debit card?
Or should Apple open it's own bank and buy the USA? Personally, I like the latter.
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Old May 30, 2014, 01:50 AM   #23
Constable Odo
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Yessss. Now that's what I'm talkin' about. Apple can do a Beats acquisition and still do mobile payments. It's good to hear Apple is making some diverse moves to take pressure off of having to mainly rely on iPhone sales.
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Old May 30, 2014, 04:16 AM   #24
Merkie
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Originally Posted by ArtOfWarfare View Post
Not going to fly until states start issuing digital drivers licenses and IDs.
This is already happening in a lot of countries.

----------

Quote:
Originally Posted by engg2000 View Post
This is a brilliant move by Apple.

Right now, chip cards allow "Tap to Pay" but that is totally insecure. If the card was linked to the Apple NFC chip, the user could tap to pay and validate with the finger print...no passcode to key in, no worry about a camera planted above or someone looking over your shoulder to steal your passcode.
You would also be able to link any of your chip credit cards or check/debit cards to the phone and use an app to select which one to use (similar idea to Coin but not obsolete...mag stripe?).
Sure hope this will be implemented with the next iphone.

M
Why is tap to pay with a card insecure?
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Old May 30, 2014, 05:11 AM   #25
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Sold. I want my phone to be my wallet.
Until you're standing in line in a shop and can't pay because their internet-access broke down.
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