Feeds

iWallet: No BONKING PLEASE, we're Apple

BLE-ding iPhones, not NFC bonkers, will drive trend - marketeers

Choosing a cloud hosting partner with confidence

Apple's iWallet mobile money app could be the start of a more general trend that sees web giants such as Facebook pushing into the payment industry, according to online payment experts.

iWallet would give iPhone-toting consumers the ability to pay for goods with their smartphones. It is predicted to use the firm's Touch ID fingerprint sensor to verify a customer's identity and could be launched in the autumn alongside Apple's iPhone 6. Visa has already signed up as payment-processing partner, the Daily Mail reports.

The newest Jesus phone iteration, the iPhone 6, is rumoured to contain a "secure element" to store such sensitive data. Other payment platforms – such as mobile payments rival Google Wallet – use NFC. The latest Android phones all ship the tech – which enables "Pay by Bonk" – as standard. But most reports speculate that Apple will offer their contactless payments in a "bonk-free" manner – via BLE (Bluetooth Low Energy) and a second interface.

Making payment through mobile devices offers consumers increased convenience, with market watchers predicting an explosion in the market over the next few years.

The c‪ontactless‬ p‪ayments‬ market is projected to increase from $3bn to $10bn by 2018, thanks to drivers such as host card emulation (HCE) and the predicted popularity of Apple iWallet, according to market analysts Juniper Research, NFC World reports.

"The internet has hugely changed how the payment industry works, and the digitisation of cash has become the norm," said Philipp Nieland, chief exec at the PPRO Group, which specialises in payment services.

"We have seen a rise in the use of eWallets and digital currencies like Bitcoins over the past couple of years – we are now seeing the likes of Google, MasterCard and Facebook creating their own eWallets to make payments easier for their customers. It is vital that companies such as MasterCard and even Apple jump on this bandwagon in order to not risk losing ground against young, fast moving and highly financed competitors," Nieland added. ®

Beginner's guide to SSL certificates

More from The Register

next story
Russian hackers exploit 'Sandworm' bug 'to spy on NATO, EU PCs'
Fix imminent from Microsoft for Vista, Server 2008, other stuff
FYI: OS X Yosemite's Spotlight tells Apple EVERYTHING you're looking for
It's on by default – didn't you read the small print?
Microsoft pulls another dodgy patch
Redmond makes a hash of hashing add-on
'LulzSec leader Aush0k' found to be naughty boy not worthy of jail
15 months home detention leaves egg on feds' faces as they grab for more power
Forget passwords, let's use SELFIES, says Obama's cyber tsar
Michael Daniel wants to kill passwords dead
Kill off SSL 3.0 NOW: HTTPS savaged by vicious POODLE
Pull it out ASAP, it is SWISS CHEESE
Facebook slurps 'paste sites' for STOLEN passwords, sprinkles on hash and salt
Zuck's ad empire DOESN'T see details in plain text. Phew!
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.