Apple and American Express will jointly enter the field of mobile payments

apple pay
According to foreign technology website Apple Insider reports, citing informed sources, Apple has reached an agreement with American Express, the two sides will jointly build a new iPhone payment system. The two companies have not made any comment on this yet.

The industry have speculated that Apple will launch a mobile payment application on the iPhone 6 new conference held on September 9. Previously there are message that, Visa and MasterCard companies will be added to the plan, too.

There have been rumors before that the iPhone 6 will be equipped with near-field payment (NFC) chip, until last month, the news was confirmed. The rumors about Apple is about to launch iPhone mobile payment application has been continued. If this news is true, then,the NFC chip in iPhone 6 will combined with fingerprint recognition Touch ID to create a secure payment environment for users. Apple can also obtain a large amount of credit card information from the iTunes store and create its own mobile wallet.

It has been revealed that Apple’s iPhone 6 payment system allows users to use mobile devices instead of traditional credit cards, debit cards and cash. Users only need to show their own iPhone device before checking out in the retailer which have partnership with Apple, the seller will scan your smartphone through the payment terminal to complete the docking of NFC chips and payment terminals system, and then the user can complete the purchase process by sending payment information. But it is unclear how many businesses will join to this program.

Now, Apple’s entering into the field of mobile payments, industry analysts believe that Apple’s mobile payment system will better than Google’s, because the iPhone payment system is as safe as the traditional payment cards (NFC chip, Touch ID fingerprint recognition, etc.). However, the reason of the tough development of mobile payment is not due to insufficient technology, but was determined by the coordination of many partners decision. Apple wants to grow in this field, it has to coordinate the relationship between communications carriers, credit card companies, banks and various retail outlets. But according to the current situation, it will take some time if this technology wants to be spreaded to the general consumer.

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