Did Apple finally get into the payments industry at WWDC?

At WWDC Apple only teased a mobile commerce platform.

Another Apple event has come and gone, and again it seems as if the mobile commerce platform has been left on the cutting room floor. For years there have been rumors that the company would add NFC technology to the mobile hardware and create a platform for payments using a smartphone instead of the credit card to transfer funds.

However, that doesn't mean that it didn't announce something during this week's Worldwide Developers Conference that got people excited. As an article from RE/code points out, the company may have started to show what it has planned for the payments industry.

As part of iOS 8, which is currently in its beta phase, third party developers will be able to access and incorporate the Touch ID fingerprint authentication system built into the home button into their own apps.

According to CardFlight CEO Derek Webster, the current mobile wallet landscape has many steps -- download apps, enroll cards, grab phone, unlock phone, open app, choose payment type, authenticate in the app and make the payment.

"The hope is that involving Touch ID can reduce enough of those steps to make mobile wallets a better use case for paying than the current model of taking out and swiping card," Webster told the news source.

Allowing third-party developers access to Touch ID is a major first step, but it is still in the early stages of Apple creating its own mobile wallet. The company is still hiring and interviewing payment industry executives.

Mobile payments seem poised to make a large impact on the business landscape. However, organizations will need to make sure they are ready to accept these kinds of payments when the time comes.

by Ty Hardison

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