Apple Pay the Start of Bigger Things in Contactless Payment

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Some might say it’s comparing apples to oranges. But it really isn’t.

The Apple Pay mobile payment solution caused a big buzz in the payment industry when the iPhone 6 was launched. The big deal was it works with NFC (near field communications) and a fingerprint sensor. But by all accounts, adoption could take time since a majority of retailers aren’t on board.

But the idea of combining NFC and biometrics is something that has definitely drawn other payment players out of the woodwork. According to a recent VentureBeat article, MasterCard has now partnered with Zwipe (a fingerprint sensor developer) to unveil its own vision for secure NFC-based payment – a credit card that you can hold up to a payment terminal and use your fingerprint to authenticate a transaction.

Contactless payments and digital wallets have been talked about and played with for years. And there have been numerous hits and misses. But given that Apple and MasterCard are both on board, we might just see some traction in the months to come.

So which payment technology do you think will reach mass adoption first: those using cards or smartphones?

By the Cel-Fi Team

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