iWallet means Apple is clearly positioning itself in the mPayment Sector

• As of 06.03.2012, Apple holds yet another patent for mobile payment and NFC

• iWallet is being positioned as a comprehensive solution for the control and processing of payment transactions

• The patent combines mPayment with a control system for mobile payments made through subordinate accounts

• Payment management for corporate and private customers

• iTunes Store serves as back-end for payment processing
  
   

Source: U.S. Patent and Trademark Office

On 06.03.2012, Apple acquired a patent for a control and management system for mobile payments. The patent includes the definition of transaction and release rules for payment processes of subordinate accounts. The control system thereby enables users to define limits for individual payments as well as for payment time periods; additionally, users can specify regions, product groups and merchants. Apple uses its iTunes Store to process the payments.

The payment system, operating under the name “iWallet”, provides a series of useful functions in relation to payment management for both corporate and private customers. The system gives businesses the option of defining regulation frameworks for groups or individuals and thereby manage the expenditures of their employees. As Apple points out, in the private customer sector, the system allows parents to influence and limit the purchases of their children.

With the iWallet, Apple is entering the contested market for mobile payments, in which providers such as Google Wallet, PayPal, MasterCard and VISA are active. Until recently, Apple’s mPayment strategy was rather nebulous and provided much opportunity for speculation. The only fact that is and was definite is that with over 200 million credit card customers in the iTunes Store and more than 315 million devices sold – iPhones, iPads, and iPods – Apples is a serious, relevant player.

Since 2009, Apple has applied for a number of patents that aim to make use of NFC technology. At the end of 2011, Apple introduced its “EasyPay” system, which allows customers in US Apple shops to purchase products without having to go to the cash register. While it was unclear whether Apple intended to launch EasyPay on the market as a general mPayment service, last week’s patent brings more transparency into the strategy.

The introduction of iWallet clarifies Apple’s strategy of using its strong market position among credit card customers in the mPayment market and to combine it with established innovative services.

United States Patent and Trademark Office

http://patft.uspto.gov/netacgi/nph-Parser?…RS=PN/8,127,982

ZDNet, 08.03.2012

http://www.zdnet.de/news/41560699/apple-sichert-sich-patent-auf-kontrollsystem-fuer-mobile-zahlungen.htm