A report on Wednesday claims Apple is accelerating work on a mobile payments system, or digital wallet, that could be ready by this fall, allowing customers to pay for physical goods with their iPhone instead of a credit card or cash.
I’ve written before about how Apple will change the whole idea of a credit card transaction, through the use of an iPhone and iBeacons. And how Apple made some basic changes in its networking protocols to sent encrypted data.
Now it looks like it might come here this Fall. Never have to remove your credit card. Use your iPhone to transit all the necessary data and encrpted for protection. Now you don’t have to worry about a waiter running your card twice, or copying the number or using their own software to copy the card.
In fact, with an iWatch, you might not even need to remove your iPhone from your pocket.
So now think if Apple receives a small percentage of every Visa transaction? Thiunk that might enhance their bottom line?
If I had spare money, I;d be buying Apple stock.