Apple Moves Into Mobile Payments With Apple Pay

[engine]

Apple® today announced Apple Pay™, a new category of service that will transform mobile payments with an easy, secure and private way to pay. Apple Pay works with iPhone® 6 and iPhone 6 Plus through a groundbreaking NFC antenna design, a dedicated chip called the Secure Element, and the security and convenience of Touch ID™. Apple Pay is easy to set up, so hundreds of millions of users can simply add their credit or debit card on file from their iTunes Store® account. Apple Pay will also work with the newly announced Apple Watch™, extending Apple Pay to over 200 million owners of iPhone 5, iPhone 5c and iPhone 5s worldwide. Apple Moves Into Mobile Payments With Apple Pay [apple.com]

[ZydoSEO]

I don't really see this as "innovative" for Apple. I remember reading 15 years or so ago about how many people in Scandinavia used their cell to pay for everything.

It maybe a smart move though. Perhaps they can help get mobile payments to a critical mass, and they will have market share.

[dpd1]

I know they can't keep reinventing the wheel forever, but... it just seems like it will never be the same without Steve. I think they're maybe becoming another one of those giant faceless companies, that will just go wherever they think the money is. I miss the days of when you knew something really special would be announced, that nobody had ever seen before.

[YJunK]

I agree with dpd1. It seems they've just been doing the same thing over and over again - thinner, faster, better camera, and better screen. The fact that they added this payment option is very nice, and it certainly seems more secure then just a credit card with PayPass, but I think they're really lagging behind with this technology. What's the use of having NFC and not using it for MORE than just payments?

[Jake77]

This isn't anything new. Mobile payments have been around for a couple of years now. The thing is it required shops to install extra hardware, which added to the overhead and was used by very few people.

Also after the celebrity leaks, I'm not sure how much I want to trust apple with my credit card info.

[ChanandlerBong]

and I guess they'll want their 35% cut too, no?

[Essex_boy]

not presently but given a few years...