This month, Apple Payments will be the first to be launched in the US and then globally. The industry is waiting and watching what kind of changes Apple will make to mobile payments. US investment bank Morgan Stanley pointed out in an analysis report on Tuesday that Apple Payment will bring a new hardware thinking to the mobile industry, except for the increase in NFC collection equipment worldwide, those without smartphone hardware. Supported pure payment service providers may be at a disadvantage.
NFC non-contact mobile payment is considered to be the most ideal user experience. However, due to the lack of previous NFC smartphones and collection devices, early NFC payment tools such as Google (Weibo) wallets did not open up.
Due to the lack of a leading manufacturer or technical standard, mobile payments are showing a lot of success. For example, credit card swipe payment based on credit card reader, QR code payment, account password payment, fingerprint identification payment, and even "face recognition" mobile payment.
Smittipon Srethapamote, an analyst at Morgan Stanley, said that under Apple's leadership, mobile payment tools will move toward hardware, and hardware payment tools will replace "software-based payments" based on pure Internet services.
In the mobile payment market, Apple is actually a latecomer. However, with the exclusive advantage of soft and hard integration, Apple Payments has made innovations in hardware integration. In addition to using the built-in fingerprint recognition sensor to verify identity, Apple has specially embedded a security chip in the mobile phone to store the user's payment account information. Other applications and developers are completely unable to read this information, and the information is encrypted, even if it is stolen.
At the September conference, the security of payments became the biggest selling point for Apple executives to promote Apple payments. Apple also stressed that it will not collect any data and history of user shopping.
The above analysts pointed out that compared with mobile payment based on pure cloud services, Apple's security-enhanced NFC payment will be more reliable and will be both popular and secure.
The analyst said that mobile-based mobile payments will result in higher costs for mobile devices and collection devices, but in the long run, payment fraud will be greatly reduced, which will encourage handset manufacturers and Retailers, accepting a certain increase in hardware costs.
Apple's hardware-based mobile payments will put a lot of pressure on a large number of payment vendors without mobile hardware. It is well known that in the face of a powerful Apple, Samsung Electronics, which manufactures mobile phones, and Paypal, a pure payment service provider, have formed an alliance on mobile payments. Samsung mobile phone users will be able to use mobile phone payment services based on fingerprint authentication. Both parties are expected to cooperate on the payment of equipment such as smart watches.
Apple's other paying rival "Google Wallet" has support for the Android ecosystem, but it is too late to launch and lacks hardware infrastructure support. It is foreseeable that if the Android mobile phone camps follow the example of Apple and use the NFC chip as the standard hardware, Google Wallet will usher in a "second breakout" opportunity.
In contrast, Stripe, Square and other weaker pure payment vendors may face a small impact in the reshuffle of Apple's payment.
The development of NFC payment requires a large number of supermarkets and street merchants, and has NFC-enabled collection equipment. On the second day after Apple's payment was released, Apple partner MasterCard announced that it would require all pos machines sold in Europe after January 1, 2016 to support NFC. In addition, by 2020, the old-fashioned POS machines currently in use must also be upgraded to support NFC mobile payment. (Dawn)
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