iPayment: New Apple Mobile Payments System


Apple has reached an agreement with American Express to work together on its new iPhone payments system (iPayment). The new iPhone 6 will come with a built-in “iPayment” system that could end the need to carry multiple credit and debit cards.



How “iPayment” works?

The “iPayment” system would let a user connect his or her iPhone 6 to a range of accounts, and then pay for goods and services by placing the handset on a reader to check out. Payments would be authorised using the iPhone’s Touch ID fingerprint reader. The new iPhone will make mobile payment easier by including a near-field communication (NFC) chip for the first time

What is NFC (near-field communication)?

NFC is not a new technology, but has yet to enter mainstream use despite its inclusion on many rival phones. Near-field communication (or NFC) allows data to be transferred between a device and a reader when one is placed close to the other – allowing phones to be used in the same way as contact-less debit cards or Oyster cards on the London transport network. Industry sources say Apple believes its iPhone payments system will be as least as secure as traditional payment cards.

easypay concept

According to CNET, 900 million iTunes account holders have entrusted Apple with their credit card details. Those customers are likely to be able to take advantage of the iPhone 6’s new payment system without too much form-filling, which often creates an obstacle to new payment systems. Fraud is likely to be a key concern for both customers and retailers signing up for the system, but according to Re/code the technology will prove secure.


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