Apple Inc. (AAPL) & American Express Company (AXP) May Become Partners in Mobile Payments

There has been already plenty of fuss and discussion around Apple Inc.’s (NASDAQ:AAPL) new product iPhone 6 and its innovative payment system, which is supposed to include American Express Company’s (NYSE:AXP) support. According to re/code, Apple Inc. (NASDAQ:AAPL) might actually make the concept of mobile wallets to work, unlike some partly-successful attempts from competitors like Google Inc. (NASDAQ:GOOG).

AAPL Apple Store

It is believed that Visa Inc. (NYSE:V) and Mastercard Inc. (NYSE:MA) have already given their support towards the implementation of the new payment method and that American Express Company (NYSE:AXP) is the only one’s that’s left for the Cupertino, California, based company to complete its master plan. This cooperation between the giants should make the iPhone 6 a universal device that can be also used as a debit card, credit card or cash to pay for goods in brick-and-mortar shops. The customer will have to just present their phone to finalize the purchase. It is currently uncertain which retailers will allow such form of payment.

An issue probably faced or to be faced regards the institutions responsible for the client’s card. However, if Visa Inc. (NYSE:V) and Mastercard Inc. (NYSE:MA) are already on its side, there must be no difficulties related to the subject matter, otherwise, the bank must be contacted to make the magic happen. Assuming everything goes well, we might be witnessing the end of speculations about when Apple Inc. (NASDAQ:AAPL) will take advantage of its massive collection of cards registered on iTunes and App Store.

At this point there are no comments from neither of the sides, American Express Company (NYSE:AXP) being particularly silent. Security reasons might be the major impediment to the flow of information. Anyways, quite soon it will all become available not only as theoretical knowledge, but also applicable mastery. For what it seems, there will be no difference in security matters between the iPhone and a regular card, thus if you’re planning to buy Apple Inc.’s (NASDAQ:AAPL) new product, you might want to say goodbye to your American Express Company (NYSE:AXP)’s plastic.

Disclosure: none

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!