Apple is preparing to take on the likes of Google and PayPal by launching a mobile wallet service for iPhone, iPad and iTunes users, according to the Wall Street Journal.
But how will the Payments team compete with the oh-so-important UI team for a slice of the development pie? I sense a VERY long run up to release of anything meaningful. I do not doubt that an Apple inspired payments ecosystem would be nothing short of fantastic,
I just doubt that they will actually move quickly enough to make a splash.
Take on the likes of Google? Does Google have something of note to take on?
Apple appears to be determined to control the environment where it interacts with its customers (online or in store) and in a closed loop/quasi private label environment apple can build extraordinary client experiences and UI's
However, Open waters are a bit more complex, merchants who are aware of the Revenue share that Apple asks for as part of their involvement in a commercial transaction may think twice about enabling Apple to disintermediate them from their consumers.... and
speaking from personal experience the Fingerprint recognition on my Iphone is a fail - appears that this is true for about 20% of Iphone 5 Users!!!
If Apple does do more with payments it will be to lock in people to their ecosystem, which means it wont be something that we will see adopted by the majority of large or small businesses. Rather this will be to strengthen their grip on in app purchases,
purchases within their own store and via their own services, such as iTunes.
This is nothing new here...
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