On January 9, 2007, late Apple CEO Steve Jobs took the stage for the Macworld keynote address and said "we're going to make some history together today." Ninety minutes later, he reached the point where it was time to unveil three new products — a wide screen music player, a mobile phone and an internet communication device. Then he added that all of these devices were in fact just one, and it was called the iPhone.
Jobs introduced the smartphone with the device by saying "every once in a while a revolutionary product comes along that changes everything." Today, the impact of the iPhone and the mobile device marketplace that was kick-started by its inception has spread further than anyone imaged that day seven years ago this month.
For real results of the iPhone's effect on business, look no further than the retail and payment industry. While a wireless credit card terminal had existed outside of the Apple sphere of influence, future iterations of the smartphone—and later, the iPad tablet—streamlined and simplified the process with mobile POS systems.
The current retail payment landscape is filled with hardware, applications and trends. One of the most talked about is one that Apple hasn't rolled out — NFC technology. Many other smartphone developers have added the chip technology to their devices and card providers like MasterCard and Visa have incorporated it into some versions of their cards. Merchants like Tim Hortons currently have them ready to go.
The iPhone helped spawn smartphone and tablet POS systems and is helping usher in a new generation of payment options. With the help of a retail payment solution provider, any merchant can embrace the future.