Apple Could Collaborate with Visa on Its Own Mobile Payments System

Discussion in 'Apple iPad News' started by RaduTyrsina, Aug 5, 2014.

  1. RaduTyrsina

    Expand Collapse
    News Team

    Jun 22, 2012
    Thanks Received:

    Besides getting ready for the unveil of its much-awaited next-gen iPhone and iPad models, Apple could also come up with some surprises on the services and software side, such as the unveiling of their own mobile payments system.

    According to Pacific Crest analyst Josh Beck, cited by MarketWatch, recent changes in Visa’s system, including improved security could allow tech companies to enhance and expand their mobile payments systems. He informed his clients in a note that Apple is one of those companies that could form an alliance with Visa:

    “We think an Apple and Visa partnership could be on the horizon. After analyzing the payments, handset, enabling technology and Internet landscape, we think a partnership between Apple and Visa would make strategic sense"

    He thinks that such an alliance could be unveiled “as early as this fall,” which would be just in time for the expected launch of the iPhone 6. He also added the following

    "Apple could leverage its affluent-skewed consumer base and credit card stockpile to add value via an improved in-store shopping experience. Apple mobile payments could be Passbook on steroids. Apple could use its large stockpile of iTunes accounts and cards on file (about 800 million), along with Passbook and a new token partnership with Visa, to provide a highly scalable payments platform."

    It's said that Apple has on file more than 800 million credit cards, which is something that probably no other tech company can boast with. Therefore, a mobile payment system would make a lot of sense, but it's going to take time until we see it, since it's not an easy new service to deploy.

    Source: MarketWatch

Share This Page