Next iPhone Will Have NFC Mobile Payments, Says Morgan Stanley Analyst

Morgan Stanley Analyst Firm has recently disclosed a secret about Apple’s next iPhone. It is revealed that the new iPhone will have an NFC chip inside it. The objective of the NFC chip is to provide mobile payment service. Not long ago, Apple CEO Time Cook gave us a hint that Apple might be using its TouchID fingerprint scanner in iPhone5 for another purpose as well. The other purpose is going to be authorization of mobile payments. However, Mr. Cook didn’t say anything about near-field communication support.

With the passage of time, the use of NFC is rapidly increasing. Keeping this in his mind, Craig Hettenbach who is an analyst at Morgan Stanley said that he thinks Apple and different other tech companies are developing technology quite rapidly. It will not take so long when NFC chip will become a vital part of smartphones. Cupertino is a tech company that has many patents related to different technologies. The patents are of Bluetooth developments for mobile payments, NFC and Wi-Fi. Moreover, the company has new POS systems from VeriFone. These new POS systems have NFC tap-to-pay support but only for compatible smartphones. Craig Httenbach mentioned about a report which says what Apple and China UnionPay are planning to do. China UnionPay is a provider of mobile payment. The plan is to make a deal which will make it possible at Chinese POS terminals to do NFC purchases using the next iPhone. In addition to this, Cupertino has been hiring professionals which have great expertize in mobile payments and NFC. This gives an impression that the company is doing a lot of work in this direction.

So far the company relies on the technologies like Wi-Fi and Bluetooth for short range wireless signals. NFC Chip will be the combination of both, and that is why it will start making its place in the market from day one. As so many ideas are becoming a reality, one can surely expect that the NFC support for iPhone and the “iWallet” will become a reality in the near future.

Next iPhone Will Have NFC Mobile Payments, Says Morgan Stanley Analyst