Next Gen iPhone with “Pay-wave” Technology?
By 2012 some 300 million mobile phones will have “wave to pay” technology. Wireless payment technology is already widely used on toll bridges and for public transportation where riders need to move quickly through turnstiles. Several handsets today use a variant of RFID technology for “wave to pay” called near-field communications (NFC). Japan makes wide use of this NFC technology in handsets. Credit card giant Visa has already introduced a ‘payWave’ card that enables small contractless purchases in shops. Several major banks (Barclays, HBOS, HSBC, Lloyds TSB and RBS) have announced plans to incorporate this new technology into their bank cards.
Apple is a major proponent of wireless everything and it makes sense that they would design “pay wave” technology into a next generation iPhone. This might also be important for iPhone in China. Guangzhou commuters can now pay bus fare with the wave of their handset. Lisa Teng’s blog, Asia – Europe Business, has an article on this topic Taking The Bus With Handset Mobile Payment.
Jacqui Cheng at Ars Technica has also written a substantive article on this topic –
Laura Marriott, Executive Director of the Mobile Marketing Associations, has writtien an article on how third-party vendors are developing solutions for pay by mobile