Analysis

The Apple venture into NFC payments

Learn about the potential impact that Apple Pay and other near-field communication (NFC) technology will have on the mobile payments industry.

The Apple venture into NFC payments

On October 20, 2014, Apple© released its Apple Pay™ mobile payments solution. Following the release of the iPhone© 6 mobile device and iOS 81 on September 9, Apple has added the last component for an integrated mobile payments solution with near-field communication (NFC) technology.

Certainly, both financial institutions and the general public have been very interested in this development since its announcement more than a month ago. How might this launch represent a change in the dynamic surrounding NFC-based mobile payments in particular, and what barriers may remain for NFC payment adoption to present a disruptive change to the incumbent payment players: banks, card issuers, merchants, payment networks, and financial services-oriented technology companies?

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