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Friday, July 25, 2014

iPhone as Future Wallet

More indications that Apple will be pushing the idea of a convenient phone-wallet in future mobile.  An idea that has been around for years. Talked to credit card companies about integrating promotion offers and shopping lists.  Will this finally be the push to make the idea common?   What are the security and privacy implications?

" ... It seems likely Apple's payment solution will combine iTunes with Touch ID and the secure enclave on iPhones. The service will come to market in partnership with existing credit card firms.

"Apple has told some partners its system would involve a so-called secured element in the phones — a piece of hardware where sensitive information such as a phone owner’s financial credentials can be stored," The Information says.

The offer means consumers will be able to use their devices to pay for physical goods on the Web, inside apps and at retail stores.... "

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