Feeds

iWallet: No BONKING PLEASE, we're Apple

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

Protecting against web application threats using SSL

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. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Infosec geniuses hack a Canon PRINTER and install DOOM
Internet of Stuff securo-cockups strike yet again
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Spies would need SUPER POWERS to tap undersea cables
Why mess with armoured 10kV cables when land-based, and legal, snoop tools are easier?
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
YouTube, Amazon and Yahoo! caught in malvertising mess
Cisco says 'Kyle and Stan' attack is spreading through compromised ad networks
Hackers pop Brazil newspaper to root home routers
Step One: try default passwords. Step Two: Repeat Step One until success
Microsoft to patch ASP.NET mess even if you don't
We know what's good for you, because we made the mess says Redmond
NORKS ban Wi-Fi and satellite internet at embassies
Crackdown on tardy diplomatic sysadmins providing accidental unfiltered internet access
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.