Feeds

iWallet: No BONKING PLEASE, we're Apple

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

Beginner's guide to SSL certificates

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. ®

Protecting users from Firesheep and other Sidejacking attacks with SSL

More from The Register

next story
Spies would need SUPER POWERS to tap undersea cables
Why mess with armoured 10kV cables when land-based, and legal, snoop tools are easier?
Early result from Scots indyref vote? NAW, Jimmy - it's a SCAM
Anyone claiming to know before tomorrow is telling porkies
TOR users become FBI's No.1 hacking target after legal power grab
Be afeared, me hearties, these scoundrels be spying our signals
Jihadi terrorists DIDN'T encrypt their comms 'cos of Snowden leaks
Intel bods' analysis concludes 'no significant change' after whistle was blown
Home Depot: 56 million bank cards pwned by malware in our tills
That's about 50 per cent bigger than the Target tills mega-hack
Hackers pop Brazil newspaper to root home routers
Step One: try default passwords. Step Two: Repeat Step One until success
China hacked US Army transport orgs TWENTY TIMES in ONE YEAR
FBI et al knew of nine hacks - but didn't tell TRANSCOM
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
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.