There were a couple of stories out today on Apple getting into the mobile payments business. Apple has a big day coming up on September 9 a news event day where many expect to see the new iPhone 6, there has also been talk of a wearable device. Now there is the possibility according to some in the business that a foray into mobile payments could be on the horizon.
Tech Crunch wrote:
As Apple inches closer to its news event on September 9, there has been growing speculation that mobile payments will be a part of the action. Apple, the reports say, will add NFC technology to the iPhone 6, and it will debut a mobile wallet-style service that could include integrations with American Express, Visa and MasterCard and possibly PayPal to enable physical, in-store payments using the smartphone.
The reports of Apple finally making the mobile payments jump seem to have redoubled this year, boosted by positive payment comments from Apple CEO Tim Cook himself.
If the reports are accurate, a mobile payments service from Apple would have been a long time in the making, coming after years of speculation involving potential acquisitions; lots of patents; a steadily growing pile of consumer credit card data from its (likely over) 800 million iTunes accounts; and as a counterbalance to moves from would-be competitors.
Read the full article here
Quartz also covered the possibility of Apple getting into the mobile payments business
Despite a lot of investment and even more hype, mobile payments haven’t really taken off. While the idea of using a mobile phone or other device to quickly and securely pay for things sounds appealing, only between 3% and 7% of consumers in the US and Europe use their phones to buy coffee, books, or other physical goods in stores, according to Bain (pdf).
Apple could start by creating the first simple, global brand for mobile payments. Whether it’s called iPay, AirPay, or something else, Apple could start by making something people will recognize.
I found the Quartz article to be very good and is worth the read as a consumer, domain investor who speculates in mobile/payment type names, and for those running an online business.
Read the full article here
Dan Frommer touched upon one area that a couple big players in the domain space might be interested in. Frommer talked about creating a simple, global brand that is easily recognized. A couple of big players in the domain space may have the perfect brand for Apple. Marchex owns the domain iWallet.com registered in 2000, and our very own Michael Berkens and his Most Wanted Domains owns iBill.com, registered in1996. Mr.Frommer mentioned iPay in his article but that domain is owned by Planet Payment who runs the iPAY Global Gateway, a trusted online payment gateway for e-commerce, call center, mail-order and telephone order merchants. iPayment.com is owned by Core Business Technologies and provides solutions for E-Commerce, Cashiering, Web Payments and Point-of-Service with iPayment. iMobile.com is also developed by Global Ventures LLC.
