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17 Sep 2014

Apple Pay & Beyond – Mobile Payment Options for App Developers

If success is about having more options than the mobile industry is thriving right now. Apple’s recent launch event introduced two different models of the iPhone, the iWatch, and the integration of Apple Pay. Apple Pay is a mobile payment service that utilizes NFC technology to allow users to make purchases via any iPhone 6 device.

According to Apple’s product manager Eddy Cue, with their service users’ payment information is encrypted with a special account number enabling one-time payment numbers and security codes generated for each transaction. The set-up process requires users to take a snapshot of their credit card using their iPhone 6, and then send it to be verified, and then upload via PassBook to access the service.

“We are not in the business of collecting your data. This is between you, your merchant and your bank. The cashier doesn’t get to see your name, credit card number or anything else,” stated Cue.

Most smart phone users are already familiar with mobile payment services. Google even released its own platform called Google Wallet not too long ago but it hasn’t quite taken off like more well-known services such as eBay’s PayPal. Apple Pay has partnered with MasterCard and Visa, which are two major credit card companies in order to make the payment process easier.

Apple Pay is Opening the Gates

Although the increase in app payment options provides consumers with a convenient way to make purchases on the go, for app developers this change will require more time in their selection of which services to integrate. It’s important to always select the services that’s the best fit your app and user-base.

CEO of the app development firm Tulip Retail, Ali Asaria, had this to say on the topic, “Payment providers need to make it very easy to flip the switch and turn it on.”

“You can assume there’s always going to be a variety of ways to pay. Apple Pay only works on Apple. That’s not the entire market of phones. There’s got to be other payment providers with Apple Pay-like payment processing that are going to happen across the board.”

Asaria’s company has been working closely with MasterCard in their N>XT challenge. The challenge is basically a hackathon that provides developers with APIs and SDKs to help them create apps that will potentially revolutionize the way we make mobile payments. The next N>XT app developer challenge will begin the first week of October.

(Source: FierceDeveloper)


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