How Apple’s iPhone 6 Can Finally Make Mobile Payments Happen
People actually like mobile payments—at least for lattes and taxis. Mobile wallets haven’t caught on in part because they haven’t given customers a reason to use them. “Everything that has been done so far has not been customer-focused at all,” says Haro. “It’s all been focused on the manufacturers and carriers.” Still, mobile payments have proven popular in certain niches. With help from Square, Starbucks (SBUX) has been accepting payments on its mobile app since 2012; now 15 percent of transactions at Starbucks’s U.S. stores use mobile payments, and the coffee chain is working on a service that will let customers order and pay before even getting to the store. Another potential model is Uber, which has prospered with a mobile-payment system that lets passengers step out of the car at their destination without so much as swiping a credit card.
Of course, Uber does use credit cards – it is just not swiped, but the payment is handled through Ubers network. The main issue with anything mobile is the security issue.
Apple will not protect the users more than Google wallet, Paypal or other mobile payment forms. But it could spend time to actually provide vallue add to the payment. Starbucks waiting lines are to be avoided and the ability to jump the line by preorder and prepayment would take an issue out of a Starbucks visit that is highly annoying.
Any kind of loyalty-club treatment could also define value add (bits of perks, coupons and similar gimmicks). The elephant in the room stays the insecure platforms and the secretive manner, the Googles, Apples and Paypals are showing when it comes to proving these payments are, indeed, secure and the risk of being pick-pocketed electronically is avoided (or, at least insured).