Apple's iWatch- Expect in Two Sizes and can be use to make payment wirelessly

According to the Wall Street journal, Apple in their upcoming smart watch is working on incorporate NFC (near-field communication) technology. This technology can be used to make payments at different locations wirelessly. This information was directed towards the people who are aware of this issue.

Wall Street journal also added that Apple is also working on adding the NFC technology to their upcoming newer versions of iPhone. This can be used to transmit data over short distance and that too wirelessly.

The Apple smart watch expected to come in two sizes and will be having installed sensors to monitor and track the health of the user.

As reported by Apple reporter John Paczkowski in Re/Code blog, we might not able to see the smart watch being launched and on sale anytime this year.

As per another reliable source of Apple, Ming Chi Kuo, KGI Securities analyst, it was again reported that we can expect two types of iWatches and the sale of the smart watch is not expected till year 2015. However no official comments have been received from Apple.

The reports have indicated that NFC technology in iPhone 6 will enable the users to pay for services and goods with their credit cards, which are stored with Digital content store of Apple iTunes. This technology will also allow the users to pair their device with others as this facility is already available in android and windows phone.

According to some reports Apple has also got into a deal with credit card companies Mastercard, American express and Visa to facilitate transactions.

NFC

NFC basically is a medium for wireless communication which allows the users to exchange data between two devices. Flow of information is more convenient through NFC. NFC technology comes in three different forms including device-device, card emulation and tag reader and writer. Tag reading facility with enable the companies to put a tag on movies, which the user can scan through their smartphones and even iwatch the trailers. One will be able to tap their smartphones which are enabled with NFC on any coupon tag and avail special offers. NFC facility will allow users to connect their phones to their printers wirelessly. This facility with come as a boon for both NFC users and Bluetooth users as both the technologies are interoperable.

Cupertino, California, on 9th September, Apple has invited media for a special event in their hometown. Apple is expected to release their latest version of their smart phones during this event. These new version phones will be available for people from 19th of September.

One thing to remember is that you can use the NFC enabled services only in NFC enables stores. You will not be able to make payment through you phone in a store without NFC enabled.

Mobile Money Services – Convenient Option for Financial Transaction

Apple Technology has been enhancing its products making great changes in the lives of consumer. `Mobile Money’, is the most convenient option for customers, to maintain `stored valuable as well asan electronic account that can be accessible from their mobile phone, which can be utilised for various purposes of financial transactions.

Mobile Money is one of the highly effective systems of securing electronic transactions in developed as well as developing markets and in present times we find more individuals with mobile phones than a bank account. Mobile money has been connecting service providers and users in turning their mobile phone into an electronic financial account wherein there are users from all walks of life.

 The rise of mobile money accounts for deposit and payment facilities are centred on a mobile phone which can be operated with ease and comfort combined with precautionary measures which need to be adhered to by the user.

As per statistic which have been compiled by Leo Mirani of Quartz, he indicates that a major section of the overall world’s population have a collective inclination to move beyond the traditional transaction method to mobile money services which seems to be a better option that is convenient and quick.

Touch ID – Next Generation iPhone

iPhone customers generally come from wealthy background and have been relying on electronic payment by way of credit cards and web payment services though these processes are comparatively insecure making this system of payment ecosystem prone to being insecure.

Tim Cook, Apple Chief Executive during one of the company’s quarterly results conference call in January this year, had announced that his company would be interested in this issue informing reporters that` the mobile payment area in general is what they are intrigued with and that it was one of the thoughts behind their Touch ID’.

Many are of the belief that Apple’s entry in this field would come at the beginning of fall with the so called next generation iPhone 6, which has been reported to comprise of near field communication, short range wireless data transfer stand powering almost every modern contactless payment system which has shown a few useful cases outside the arena.

This system could also enhance the popularity of Apple as the most sought after mobile money account provider in the world. Apple has been selling over 30 million iPhone every quarterly where almost every individual buying iPhone ties it to a credit card backed iTunes account.

Handset Based Payment

Besides short term gains, it would also be leading to long term growth while individuals in developing countries who have been accustomed to handset based payments tend to grow more prosperous and would be looking forward to more advanced devices like an iPay’, system which would be a far advanced option from rivals like Window Phone and Android.

If Apple is successful in driving the adoption of iTunes backed mobile payment system among its rich consumers, while at the same pace as a similar system in the developing countries, it could be one of the most profitable and important strategic headway of the company as the iPhone becomes the next iWallet for consumers making it a convenient option for financial transaction. Do get back to Mono-live for more intriguing information and insight on Apple Technology.