Apple Hires Near Field Communications Expert

[wizard]

This is a good question.

.… If the next iPhone supports this technology, will Apple get license from these providers so that the chips in iPhone will be compatible with the existing systems that are being used by millions of people?

I would hope so but moving to such a system is not trivial. First; Apple is likely to put their spin on such a system. Second; Apple will need partnerships with banks and other institutions. These groups will have their own say in the implementation.

Beyond all that there are laws at the state and federal level that may need to be adhered to or updated. One of the primary reasons the credit card situation is slow to change in the US is the laws protecting both vendors and users. I honestly doubt any bank would jump before it had a clear idea of its liability. That Signature on those credit slips is something that would have to be dealt with.

On the otherhand Apple is one of the few companies in a position to bring this caoability to the US. Even then don't expect fast adoption, there is a lot of inertia to overcome in retail.

Dave

 

[codicleo]

Vigier is a mole!

He's not to be trusted! Someone should look into this guy -- maybe talk to some of his former coworkers at mFoundry. I can smell what the Rock is cooking... and it's too French.

 

[Pigumon]

awesome

Yep, my friends have been using it for years in Japan, I got to try it out too, this stuff needs to be here. It just makes sense. Walking past a train turnstile and just passing your wallet/phone over the sensor is way better than standing in line to buy a ticket then trying to find it after the long train ride.

Glad Apple's finally getting on the ball!

 

[doctor-don]

Has anyone applied for a patent on paying with cash?

 

[Peel]

I wonder if such tech would allow the iPhone to also replace my Oyster card for London transport, and my building entry card. That would be awesome to help slim down my ever expanding wallet (not expanding with cash mind you, just extra cards and stuff).

 

[Gakboi]

Wirelessly posted (Mozilla/5.0 (iPad; U; CPU OS 3_2_1 like Mac OS X; en-us) AppleWebKit/531.21.10 (KHTML, like Gecko) Version/4.0.4 Mobile/7B405 Safari/531.21.10)

I just hope to hell they (apple, google, hp, Nokia, ect...) standardize on one system.

If they don't someone else will. For example make an app using the ebay api which can be used cross platform. Each os specific app can talk on one system

 

[NickK1066]

Just waiting for Apple to anounce:

Orchard - the Apple bank. Watch your savings grow.

If jobs is building an empire then it's natural to start a financial services wing to handle the group's financial activities. The upsell is to reuse those to subscribers as financial services - a bank, morgages, credit cards etc.

If you look at the Japanese groups you'll find a group of companies with their own banks to manage finanical needs of the group. I wonder if Disney/Apple/a.n.other will then start using Orchard for their needs.

 

[cvaldes]

Nah, if you want to make money from Apple, just buy their stock. So much simpler.

 

[kdarling]

If Apple follows their previous models...

We'll all pay for groceries using our iPhones. The groceries will then be billed to us via our iTunes account. And Apple will take a 30% cut somewhere along the line.

j/k?

 

[Fukui]

I would hope so but moving to such a system is not trivial. First; Apple is likely to put their spin on such a system. Second; Apple will need partnerships with banks and other institutions. These groups will have their own say in the implementation.

Dave

Well, if the implement Felica (http://www.sony.co.jp/Products/felica/) then it should have plenty of compatibilty...at least in JP...

If they do that, I'll dump my AU phone tomorrow.... Please make it so, Steve please...

 

[logandzwon]

I certainly hope not. We don't need to make playing with iPhones at the table an acceptable behavior.

+1

I'm a terrible offender, but at lest I recognize it's wrong. Thats the first step in getting better!

 

[logandzwon]

Cute but meaningless. I'm for one look upon as being a bit backwards as I only have one Credit card with a zero balance and one debit card. I pay for just about everthing with cash and cringe when i see credit cards whipped out at groceries or gas stations.

I pay everything with credit card exclusively. If someone swipes my number, or a merchant screws me and doesn't make wright, it's not my bank account that is screwed.

 

[technoholicjakk]

Hmm

Agreed on the security part. To be honest I doubt anybody will see NFC Tech within this generation iPhone. Apple will most probably be hiring the 'security' part of this news headline as an advisory to the actual iOS software department in implementing security measures. Or he could over see actual apps which use this technology?

 

[CFreymarc]

If I can buy something half way around the world using my phone, why not 4 inches away?

TWSS

 

[CFreymarc]

Just waiting for Apple to anounce:

Orchard - the Apple bank. Watch your savings grow.

If jobs is building an empire then it's natural to start a financial services wing to handle the group's financial activities. The up-sell is to reuse those to subscribers as financial services - a bank, mortgages, credit cards etc.

If you look at the Japanese groups you'll find a group of companies with their own banks to manage financial needs of the group. I wonder if Disney/Apple/a.n.other will then start using Orchard for their needs.

You are talking about zabtsui trading techniques. Those business practices that lock in a group of businesses, typically who's board members have common family bonds (typically samurai) are illegal business practices in the USA. This is one reason why you do not see Orange in the USA. While I am not an SEC expert, I remember several conversations based on who can own and run banks and who cannot based on ones business holdings.

As I recall, you cannot get loans from a bank that you have a major operating steak in. There are somehow clauses of the Ma Bell Breakup of 1984 that forbids those involved with the manufacture of telecommunications equipment (like iPhones) from owning fiscal institutions.

This has something to do with Treasury Laws where if you contribute to the infrastructure where money is transferred, you cannot own a major part of a bank. This includes paper mills and newspapers. I think it has to do with having an unfair advantage over funds transfers and securities exchange.

If any attorney with and SEC background would want to comment here pro bono, feel free!

 

[Fukui]

You are talking about zabtsui trading techniques. Those business practices that lock in a group of businesses, typically who's board members have common family bonds (typically samurai) are illegal business practices in the USA. This is one reason why you do not see Orange in the USA. While I am not an SEC expert, I remember several conversations based on who can own and run banks and who cannot based on ones business holdings.

Its zaibatsu and its not a trading technique. The technique your referring to is called Keiretsu, and the two are independent though not always separate from each other. And yes, Zaibatsu would be illegal in the U.S, but a form of cross-holdings might be, as long as they don't run afoul of laws (anti-competition etc...)

 

[Johnnnny]

Once this is incorporated into iPhones, instead of just frowning upon jailbreakers, I'll laugh at them.

 

[CFreymarc]

Once this is incorporated into iPhones, instead of just frowning upon jailbreakers, I'll laugh at them.

Worst, once this is iPhones, jailbreakers could arguably be charged with Wire Fraud and breaking a handful of other financial security laws.

 

[NickK1066]

You are talking about zabtsui trading techniques. Those business practices that lock in a group of businesses, typically who's board members have common family bonds (typically samurai) are illegal business practices in the USA. This is one reason why you do not see Orange in the USA. While I am not an SEC expert, I remember several conversations based on who can own and run banks and who cannot based on ones business holdings.

True, however it's not uncommon for someone like Virgin to maintain financial expertise for consultancy by the other members of the group.

Disney and Apple will work to a strategy that benefits both companies - hence the digital media distribution by Apple.

Adding a bank into this mix in an economic consultancy basis would be worthwhile.

 

[NickK1066]

Its zaibatsu and its not a trading technique. The technique your referring to is called Keiretsu, and the two are independent though not always separate from each other. And yes, Zaibatsu would be illegal in the U.S, but a form of cross-holdings might be, as long as they don't run afoul of laws (anti-competition etc...)

A keiretsu is exactly what I'm describing.

Look at Panasonic, Technics etc all members of a group of companies using a specific group banking service.

 

[aegisdesign]

I wonder if such tech would allow the iPhone to also replace my Oyster card for London transport, and my building entry card. That would be awesome to help slim down my ever expanding wallet (not expanding with cash mind you, just extra cards and stuff).

Already been done by Nokia in 2007.

The Oyster card is just an RFID chip in a card. NFC works by capturing the RFID data on any card you show it, effectively acting as an electronic wallet. You can also top up directly on your phone.

 

[doctor-don]

You are talking about zabtsui trading techniques. Those business practices that lock in a group of businesses, typically who's board members have common family bonds (typically samurai) are illegal business practices in the USA. This is one reason why you do not see Orange in the USA. While I am not an SEC expert, I remember several conversations based on who can own and run banks and who cannot based on ones business holdings.

As I recall, you cannot get loans from a bank that you have a major operating steak in. There are somehow clauses of the Ma Bell Breakup of 1984 that forbids those involved with the manufacture of telecommunications equipment (like iPhones) from owning fiscal institutions.

This has something to do with Treasury Laws where if you contribute to the infrastructure where money is transferred, you cannot own a major part of a bank. This includes paper mills and newspapers. I think it has to do with having an unfair advantage over funds transfers and securities exchange.

If any attorney with and SEC background would want to comment here pro bono, feel free!

Its zaibatsu and its not a trading technique. The technique your referring to is called Keiretsu, and the two are independent though not always separate from each other. And yes, Zaibatsu would be illegal in the U.S, but a form of cross-holdings might be, as long as they don't run afoul of laws (anti-competition etc...)

Spellcheck doesn't catch everything–

Those business practices that lock in a group of businesses, typically whose board members have common family bonds (typically samurai) are illegal business practices in the USA.

As I recall, you cannot get loans from a bank that you have a major operating stake in.

For more than 5 years I have had credit cards that has a chip in it to wave at the checkout. Right now on one of them it's called blink. It also has paypass printed on it.

The lack of adoption in the U.S. must be the reluctance of the banking industry since the technology exists. Or maybe they know something relative to its security that we are not being told about in the Asian countries.

 

[PingsterI]

This is likely the next big feature in the iPhone line. Being able to sit at a restaurant, pull out your phone and see the menu (and order) will be the next "revolution" brought to you by smart phones and Apple is in the best position to be the one to popularize it.

That's already happening my man! I live in Boston and there is a bunch of places here in that you can order and pay at the table went to Upper Crust and Blue Ribbon Bbq did it all through the iPhone. Pretty sweet.

 

[CFreymarc]

Spellcheck doesn't catch everything–

Those business practices that lock in a group of businesses, typically whose board members have common family bonds (typically samurai) are illegal business practices in the USA.

As I recall, you cannot get loans from a bank that you have a major operating stake in.

For more than 5 years I have had credit cards that has a chip in it to wave at the checkout. Right now on one of them it's called blink. It also has paypass printed on it.

The lack of adoption in the U.S. must be the reluctance of the banking industry since the technology exists. Or maybe they know something relative to its security that we are not being told about in the Asian countries.

I'll remember that my next drunk rant in Rapungi. Last time I told off a few Zabatsu types there, a few Russian guys bough me drinks.