There were a couple of stories out today on Apple getting into the mobile payments business. Apple has a big day coming up on September 9 a news event day where many expect to see the new iPhone 6, there has also been talk of a wearable device. Now there is the possibility according to some in the business that a foray into mobile payments could be on the horizon.
Tech Crunch wrote:
As Apple inches closer to its news event on September 9, there has been growing speculation that mobile payments will be a part of the action. Apple, the reports say, will add NFC technology to the iPhone 6, and it will debut a mobile wallet-style service that could include integrations with American Express, Visa and MasterCard and possibly PayPal to enable physical, in-store payments using the smartphone.
The reports of Apple finally making the mobile payments jump seem to have redoubled this year, boosted by positive payment comments from Apple CEO Tim Cook himself.
If the reports are accurate, a mobile payments service from Apple would have been a long time in the making, coming after years of speculation involving potential acquisitions; lots of patents; a steadily growing pile of consumer credit card data from its (likely over) 800 million iTunes accounts; and as a counterbalance to moves from would-be competitors.
Read the full article here
Quartz also covered the possibility of Apple getting into the mobile payments business
Despite a lot of investment and even more hype, mobile payments haven’t really taken off. While the idea of using a mobile phone or other device to quickly and securely pay for things sounds appealing, only between 3% and 7% of consumers in the US and Europe use their phones to buy coffee, books, or other physical goods in stores, according to Bain (pdf).
Apple could start by creating the first simple, global brand for mobile payments. Whether it’s called iPay, AirPay, or something else, Apple could start by making something people will recognize.
I found the Quartz article to be very good and is worth the read as a consumer, domain investor who speculates in mobile/payment type names, and for those running an online business.
Read the full article here
Dan Frommer touched upon one area that a couple big players in the domain space might be interested in. Frommer talked about creating a simple, global brand that is easily recognized. A couple of big players in the domain space may have the perfect brand for Apple. Marchex owns the domain iWallet.com registered in 2000, and our very own Michael Berkens and his Most Wanted Domains owns iBill.com, registered in1996. Mr.Frommer mentioned iPay in his article but that domain is owned by Planet Payment who runs the iPAY Global Gateway, a trusted online payment gateway for e-commerce, call center, mail-order and telephone order merchants. iPayment.com is owned by Core Business Technologies and provides solutions for E-Commerce, Cashiering, Web Payments and Point-of-Service with iPayment. iMobile.com is also developed by Global Ventures LLC.
I think they named it iWallet a long time ago. They named the iPhone without securing the name and ended up licensing it for what has amounted to hundreds of millions ($30 per iPhone sold). Hope Marchex cuts and equally solid deal.
Owen, where was that documented? Was it in an earnings report somewhere, or is that a rumor?
what should they call their HD TV Set since iTV is not an option.
Maybe iTUBE ?
iFocus
iPay is very good
Apple can register ANY domain it desires, now can’t they?
pay.apple
ipay.apple
wallet.apple
iwallet.apple
money.apple
imoney.apple
Why promoting VeriSigns “.com” brand if they have their own TLD brand?
Plus: Do they NEED a domain for the wallet? It’s a damn iPhone wallet – it’s on the phone ALREADY. If you want to fiddle with it on your PC you don’t go to a website – you go to iTunes (guesswork, but why should it be different than with all the other Apple stuff)?
And the iphone.com story: That was the NAME (brand, TM) – not the domain name! The domain sold for smth like a Million. And the story on the NAME “iPhone” goes like this:
Steve Jobs called the Cisco CEO directly and said: “We want the name” (TM). Cisco denied. Then CISCO sued. Eventually CISCO gave up.
Do you have any qualified source for the $US 30 / sold phone story?
I love domains. God knows I really do. And I am a domainer. But sometimes I have troubles to follow the wild phantasies in the domainer world. I am talking to “the other side” (people at companies like Amazon or Apple) too (I am a broker) and I can tell you: These guys are BEWILDERED about your unrealistic out of the world phantasies. “Ahh, Apple makes Billions – so they can pay hundreds of millions for a domain” – crazy hell. Have you EVER talked to those people who are in charge for these kinds of deals? Have you ever heard the word “budget”? No, it’s not a rental car – it’s a limitation and prevents them from digging into the Billions laying around in cash in sealed large vaults in the Corporate headquarters…… (not).
I’m a fan of Apple, but I have a very strong feeling the genius of Apple ended with Steve Jobs.
From a payments standpoint, the market is already locked up and contingent on Visa, Amex, etc. So people pay with a phone instead of a card… so what? Apple makes a tiny percentage per transaction while the credit card companies profit. Google has invested more than half a billion in the Google Wallet, and still nobody uses it.
From an innovation standpoint, what Apple should do is forget the mobile wallet and reinvent currency (i.e., iMoney). With a few hundred million iTunes accounts, they could do what Bitcoin is trying to do and create the first mass accepted virtual currency.
But like I said, it’s probably not going to happen, as the innovation died with Jobs.
Also, things to note from a domaining standpoint: Apple typically registers i whatever with a noun, not a verb, meaning iPay, etc. are likely not going to happen. Also, if they follow Google’s lead with Wallet, you’re creating a gender-biased brand, as wallets are associated with men more so than women.
Due to a lack of any trademark filings pertaining to mobile payments, however, I’m guessing they’re going to be adding their payment service to one of their existing services (iTunes, PassBook) as opposed to creating a separate identity for it.
We’ll find out soon enough.
Cisco ‘shafted’ in Apple iPhone deal
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updated 05:25 pm EST, Thu February 22, 2007
Analyst: Apple tops Cisco
[digg this] The resolution between Apple and Cisco over the disputed iPhone name yesterday appears to have gone Apple’s way, according to independent tech analyst Rob Enderle. The two companies agreed to several legal extensions following the Cisco lawsuit over the iPhone trademark, and under that agreement both companies are free to use the iPhone trademark on their products throughout the world, but will dismiss any pending actions regarding the trademark. Cisco and Apple will explore opportunities for interoperability in the areas of security, consumer, and enterprise communications, according to the publicized terms. “It looks like Cisco caved,” Enderle said, adding that the pledge of interoperability talks “looks like the typical promise that Steve Jobs has no intention of keeping.”
Other terms of the agreement are confidential, making it difficult to say for sure which company came out on top in the negotiations. Technology analyst Roger Kay of Endpoint Technologies Associates, however, said the deal currently looks like a “face-saving” agreement for Cisco, according to USA Today.
“It looks like Cisco got shafted,” Kay said. “Maybe there’s something in the [undisclosed] terms, but I don’t see how they’re getting the good end of the deal.”
Read more: http://www.macnn.com/articles/07/02/22/analyst.apple.tops.cisco/#ixzz3CBp3ApIH
@ Alexander Schubert, thanx for the insights of an insider! 🙂
Apple shares slumped 4% today. Does it have anything to do with the iCloud photos thefts, ahead of the September 9th reveal?
My take, outlined in my blog, EmergingDomains, is: Apple will unveil home automation system! Therefore, there is an opportunity to invest in Apple stock now, before a spike. However, I don’t think Apple shares will break $143.00, or $1,000 split-adjusted, the way has been prediced by one domain blogger . . .
Therefore, Mike Berkens’ domain, RemoteHub.com , will achieve added value. I hope my domain, HybridRemote.com , will become desirable!
NudeWallet.com is still available for reg fee!
Egg on My Face
http://emergingdomains.com/egg-on-my-face
I was wrong! 🙂