Tuesday, September 9, 2014
Tomorrow, Apple Will Officially Kill The Credit Card
As you’re probably aware, tomorrow is when Apple will announce a bunch of new products, updates and services. The company, according to leaked reports, intends to intoduce a new “iWatch”, a bigger, more durable iPhone and further details on its OS operating system and Mac hardware.
But the biggest news that will affect us, as retailers, business owners and consumers, will be the company’s support of NFC (Near Field Communications) for mobile payments. NFC, which has been around for years, allows two devices to transfer encrypted data at short range using radio waves. Up until now the major backer of the technology has been Google. But as popular as Android devices are around the world, it’s the iPhone that rules in the economies (i.e. the U.S.) that pay the bills. And Apple for years has instead resisted jumping on the NFC bus. That will change this week, according to all accounts. And the impact will be fast and enormous.
To read full article, click here.
Source: Gene Marks (www.forbes.com)
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