It has been reported that Apple, the creators of the iPhone and iPad are to introduce a system in which the iPhone or iPad user could use the device to make direct retail purchases. In effect, this would make your phone a usable debit card.
The system would be entirely dependent on near-field communication (NFC) technology. Apple would have to introduce NFC radios into their next iPhone and iPad model and then begin establishing an NFC payment terminal to be used in retail stores.
The reasons for Apple’s eagerness to introduce this new system is two-fold: Apple already has a digital payment scheme in the form of iTunes in which iPhone, iPad and iPod Touch users purchase applications, music, videos etc… directly from the store, in doing this the users stores their credit or debit card information on their account. This could be incorporated into buying at a retail shop where by using the phone as the card, a payment could be made via the account. Another incentive is that Apple could encourage the use of bank account information instead of being charged transactions cots by credit card companies; this would severely reduce operating costs.
As a consumer does this seem like a good idea to you? Or are you worried about security risks?
Also follow us on Twitter by clicking the Twitter icon.