Tribune de Markus Milsted, CEO of global mobile payment solutions provider Omlis
The Apple brand is synonymous with technology that is modern, elegant and revolutionary, so it’s no surprise that they have announced a move that is setting the brand up to dominate the emerging mobile payments market in Q3 of 2014. According to Appleinsider, KGI Securities Analyst Ming-Chi Kuo predicts the release of new IPad Airs, IPad Minis, a new 4.7 inch phone and the new iWatch. The game changers are the anticipated addition of NFC capabilities in the iWatch and iPhone devices as well as a potential partnership with VISA.
According to the Wall Street Journal, Apple are seriously considering options to allow existing users to make payments using iOS mobile devices linked to existing iTunes Subscriptions. The current Apple user experience allows shoppers to make payments in Apple stores by scanning barcodes that are authenticated and charged to their iTunes subscription, but Apple’s ambition to expand its offering to shoppers extends beyond their stores to third party retailers and service providers which a potential partnership with VISA could see the Apple brand ascend to new heights.
BI Intelligence identified one of “Apple’s most quietly powerful advantages” as their 600 million subscriber accounts on file, with most of these accounts having live credit card details. The fact that most Apple subscribers would have opened their subscription with a purchase of an Apple product means that the credit card details stored by Apple are live, setting a platform for simple and quick mobile transactions should Apple offer mobile payments as an option to their customers. Apple’s existing customer base and VISA’s extensive partner network especially through small businesses sets a platform that spells key challenges for their competitors in the race for mobile payments domination.