Apple partners with Mastercard and Visa on mobile wallet

Will launch smartphone payments service next week, according to reports

Apple has struck deals with Visa, Mastercard and American Express as part of plans to launch of a mobile wallet that will enable payments via smartphone devices, according to reports.

The Cupertino firm is expected to announce partnerships with a range of payment providers, banks and retailers when the iPhone 6 is launched next week, according to Bloomberg sources, in a move that will see it go up against the likes of Google Wallet and PayPal.

The report comes as speculation builds over Apple's backing of smartphone payments. Last week it was claimed that Apple has agreed a deal with Ducth semiconductor firm NXP to supply near field communication (NFC) chips that will enable users of the next iPhone to purchase goods and services by tapping the devices against an NFC-enabled terminal.

Apple CEO Tim Cook said earlier this year that mobile payments could be the next "big thing" for the company, with the firm making internal and external staff moves to enhance its payments capabilties.

Despite a number of smartphone vendors including NFC chips in their handsets, such as Apple's main rival Samsung, the market for mobile payments is yet to take off in a significant way.

Apple, which is preparing to launch the latest version of its phone in September, is considered to be in a good position to drive adoption of mobile payments, and already holds card details for 800 million customer details through iTunes and the App Store.

In the UK there have been recent moves to drive adoption of NFC smartphone payments, using the 300,000 terminals currently available in retail stores for transactions via contactless credit and debit cards. Weve, a joint venture between three of the UK's largest mobile operators, Vodafone, EE and O2, hopes to popularise mobile payments when it launches fully next year.

Join the CMO newsletter!

Error: Please check your email address.
Show Comments

Supporting Association

Blog Posts

The real asset of small data – getting granular unearths opportunities

When most marketers use the word ‘data’, what springs to mind are large sets of numbers, Excel spreadsheets, cloud-based IT systems and complicated algorithms. Big data speak is the mot du jour. There is even a big data Week in London called the Festival of Data.

Pip Stocks

CEO and founder, BrandHook

Digital Transformation challenges for CMOs

New problems are rarely fixed by applying old thinking. In the last decade, a combination of circumstances has evolved that requires new thinking from marketers. This new thinking takes advantage of the digital environment and transforms business as we know it.

Mark Cameron

CEO, Working Three

Why innovation requires less certainty and more ambiguity

According to the Knowledge Doubling Theory, the sum total of human knowledge doubles every 12-13 months. With the full evolution of the Internet of Things, it will eventually double every 12 hours. Faced with such a sea of shifting data and knowledge, how can we make progress if we try to nail everything down to a certainty?

Matt Whale

Managing director, How To Impact

Need to improve your customer journey? We're excited to announce that we are holding that we are holding two more sessions of our sellout...

Proto Partners

Customer journeys: The new differentiation battlefield - Customer insights - CMO Australia

Read more

Thanks Mark. A third of customers leave brands after one negative experience, thats why it is ever so important that we optimise EVERY in...

Proto Partners

Customer journeys: The new differentiation battlefield - Customer insights - CMO Australia

Read more

Hi Kyle -- great piece. I couldn't agree with you more when you say that we as marketers are in the business of choice. I actually wrot...

Matthew Willcox

Tapping behavioural science for consumer influence

Read more

Great points. When it comes to optimizing the app experience, making sure you collect rich usage data is important, but making sure you c...

Dustin Amrhein

Why app engagement must be personalised - Mobile strategy - CMO Australia

Read more

You can also use automation to help keep the contact database nice and tidy. For example, programs that check and fix database values (eg...

automatico

3 brands using marketing automation for more than just email

Read more

Latest Podcast

More podcasts

Sign in