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Speculation on Apple Entering Mobile Payments, NFC

A new iPhone is imminent and again there is much fascination in the payments world as to whether Apple will finally join the near field communications (NFC) fray. It now appears that the iPhone 6, which is expected in September, will be the device that sees Apple enter the mobile payments market. As with all Apple launches, speculation has already begun and there are strong rumors that the device will feature NFC and an embedded secure element, but will not support host card emulation (HCE). For years, card issuers considering a mobile strategy have asked “what about iPhone?” They have been unable to offer an NFC solution to the mobile banking customers that use Apple devices. However, those hoping that the new iPhone will offer them an opportunity to broaden their NFC product range, may be disappointed.

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