Apple patent hits at almost-universal integration of mobile payments

Patents sometimes don’t translate to actual products. But they do hint at what’s possible for a company. Tech giant Apple looks to be expanding its peer-to-peer mobile payment system beyond iMessage. A recently filed patent application by the company suggests they are looking to integrate the mobile payment system into other iOS services such as a phone call, an email, and even calendar events. This means, if Apple intends to develop this, you can use your iPhone and its many apps and services to easily make payments. Now, that is convenient.

Source: Quartz

Square to unveil Apple Pay-compatible wireless reader in the fall

Square will be unveiling a new version of its card reader this fall that will accept Apple Pay. Announced at Apple’s WWDC event, the battery-powered wireless reader will also work with EMV chip cards and other services (possibly support for Android Pay at a later date). The new reader will work with Square Stand for businesses as well. Square is offering 250,000 of the wireless readers for free, or you can already preorder it for US$49, plus a $49 card processing credit.

Source: Square | Via: The Next Web

BlackBerry signs new agreement with EnStream to strengthen mobile payments system

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BlackBerry has entered a new three-year deal with EnStream LP to provide a secure platform for transaction services between consumers and banks. EnStream will make use of BlackBerry’s infrastructure to allow financial institutions such as TD Bank Group, CIBC, Desjardins, and Royal Bank of Canada as well as mobile operators to provision sensitive payment card credentials securely into any smartphone with Near Field Communication technology. EnStream is a mobile payments joint venture owned by Bell, Rogers, and TELUS.

“EnStream, with BlackBerry, is already serving a number of banks and mobile operators, and is becoming a hub for payment credential delivery to smartphones in Canada,” said Almis Ledas, Chief Operating Officer, Enstream LP. “We expect most major Canadian banks and mobile operators to connect through this platform to meet consumer demand for efficient and safe digital transactions.”

Apple reportedly creating service for mobile payments

A new report from the Wall Street Journal claims that Apple is hoping to penetrate the mobile payment arena to help customers who use their credit cards to pay for items on iTunes. Jennifer Bailey, an Apple executive that works on the company’s online stores, is supposedly developing the service at the moment. Meanwhile, iTunes and App Store head Eddy Cue and a “key lieutenant” of CEO Tim Cook are meeting with industry executives to discuss this possible new venture. How this will affect the existing mobile payment industry or compete against the other services is yet to be seen.