Will Apple become a payment powerhouse after Sept. 9? Apple has more than 800 million users’ card details in its database, and it is natural to wonder when Apple will capitalize on this payment-industry potential. Apple does have a crucial advantage in mobile payments. With hundreds of thousands of credit cards already stored in iTunes, it should be relatively simple to find a seamless way to move the same payment credentials into a mobile wallet. For such initiatives, Apple has been filing numerous patents over the past several years, but some prominent ones hint that Apple is the next big payments power:
- 2010: Patent applications were filed with a focus on acquiring payment information on a handheld device. The patent cites a method for conducting a group transaction having a plurality of group transaction members on a handheld electronic device. It further mentions a method for authorizing a payment in a peer-to-peer transaction and conducting a wireless transaction.
- April 2010: Patent citing the iTravel app, which would handle a broad array of functions to assist with travel logistics, such as collecting ticket information or doing easy airport check-ins. The app can leverage NFC at check-in and other travel booths hosting NFC scanners and also enable cloud-based mobile payments for ticketing.
- 2011: Apple filed a patent in Q2 2011 regarding its Passbook, an application in iOS that enables users to store coupons, boarding passes, tickets (i ...