This rumor got the attention once again from an interview given to Fast Company by a MasterCard Chief, Ed McLaughlin. This NFC (near field communication) system works by using a chip to transfer payment data to credit card readers.
NFC and other contactless payment technologies already exist, but smartphone users have not been too receptive in adopting this mobile payments system by now, as Google Wallet service, which incorporates it, wasn’t quite successful. Even so, nobody doubts Apple’s capacity and strategy to revolutionize the markets it enters.
An interesting thing McLaughlin said was that he “doesn’t know of any handset manufacturer that isn’t in process of making sure their stuff is PayPass ready.” When asked specifically whether the contactless payments industry needs Apple, he said:
“Well, anytime someone with a major base moves forward, it advances what you’re doing.”
Anyway, the MasterCard Chief didn’t mentioned Apple in any of his answers. Apple itself has not announced or revealed anything related to this matter, but there are voices who believe that this technology will be available in the next-generation of iPhone.
I personally, don’t see replacing credit cards in the close future, and I consider this technology might be dangerous for the users’ confidential data and might lead to hacker attacks.