Apple expected to announce support for NFC and mobile payments
11 April 2014 | 19734 views | 12
Anticipation is mounting that Apple is finally about to join Google in adopting NFC for payments on its mobile devices and up-coming smartwatch.
Ming Chi-Kuo, a KGI securities analyst with a prescient track record in forecasting Apple's plans is the latest to set the hares running. In a note to investors sent out Thursday morning, Chi-Kuo confidently predicts that Apple will include NFC chips in this year's iPhone models, and offer support for the technology on its forthcoming iWatch.
Earlier this year, the Wall Street Journal reported that Apple was preparing to take on the likes of Google and PayPal by launching a mobile wallet service for iPhone, iPad and iTunes users.
Citing three unidentified sources, the Journal said that Apple had charged online stores executive Jennifer Bailey with the job of pushing Apple's business into the payment industry.
The report was given further credence by Apple CEO Tim Cook in a January earnings call when he admitted that mobile payments was a business that "intrigued" the company and that it influenced Apple's thinking when developing the TouchID fingerprint scanner.