Scalper1 News
Apple’s mobile e-payment service Apple Pay presents no major threat to the big credit card companies, but it’s likely to be highly disruptive to emerging players in the field, at least in the U.S., investment bank Morgan Stanley said in a report Tuesday. Apple (AAPL) has partnered with major credit card companies American Express (AXP), MasterCard (MA) and Visa (V) on Apple Pay. The Apple Pay technology in iPhone 6 series smartphones and the Apple Watch should help advance standardization of the mobile payments infrastructure, the report says. Apple Pay uses near-field communications (NFC) chips to let people make retail payments by touching their mobile device rather than swiping a credit or debit card. In the U.S., Apple Pay is “highly disruptive” to newer players in the market, which have had trouble getting traction, Morgan Stanley said in its report, titled “Mobile Payments Blue Paper Revisit: Apple Pay in Focus.”… Scalper1 News
Scalper1 News