Those in the payments industry watch Apple press events through a different filter. While consumers take in all of the product features, this specific vertical looks for the addition of near field communication technology or other features to Apple products that could push the mobile payments market further into the public eye.
While there have been plenty of rumors surrounding the inclusion of an NFC chip over the last few years, Apple has refused to include it in any of its new product offerings. Last week, the company unveiled two new iPhones—the iPhone 5C and the iPhone 5S—and again, NFC was left on the cutting room floor. However, there was a hardware update that holds some interest.
One of the big tentpole features of the 5S is a fingerprint sensor. This will add a new layer of security for accessing the device as well as authorizing payments. A recent article from Mobile Commerce Press examined what this could mean for the mobile payment market.
"Apple has been slow to warm to the concept of mobile payments in the past. Security concerns had caused the company to distance itself from NFC technology, which forms the backbone of most mobile payments platforms," the article reads. "Apple has been looking for an alternative to NFC and some rumors suggest that the company is developing its own mobile payments system for future iterations of its smartphones and tablets."
It has been argued that paying with the smartphone at the cash register will get kick started when Apple gets on board, and a fingerprint scanner could be the beginning of that movement.