NXP Semiconductors (NXPI), whose communication chips are in the Apple (AAPL) iPhone and Apple Watch, said its secure element technology will be incorporated into the Samsung Galaxy S6 in China for mobile payment solutions. Samsung Pay — the phone’s mobile payment feature and Apple Pay peer — will utilize the SmartMX secure element, which protects and encrypts data. Unlike Apple Pay, the e-pay system works with both near-field communication (NFC)
Apple’s mobile e-payment service Apple Pay presents no major threat to the big credit card companies, but it’s likely to be highly disruptive to emerging players in the field, at least in the U.S., investment bank Morgan Stanley said in a report Tuesday. Apple (AAPL) has partnered with major credit card companies American Express (AXP), MasterCard (MA) and Visa (V) on Apple Pay. The Apple Pay technology in iPhone 6 series smartphones and the Apple Watch should help advance standardization of the mobile payments infrastructure, the report says. Apple Pay uses near-field communications (NFC) chips to let people make retail payments by touching their mobile device rather than swiping a credit or debit card. In the U.S., Apple Pay is “highly disruptive” to newer players in the market, which have had trouble getting traction, Morgan Stanley said in its report, titled “Mobile Payments Blue Paper Revisit: Apple Pay in Focus.”…
People who see Apple Pay as just another way to make payments in retail stores are missing the big picture. In addition to letting people pay for items with a wave of their iPhone 6 or Apple Watch, the near-field communications (NFC) chip in those devices has many more applications, Susquehanna Financial Group analyst Chris Caso said in a report Tuesday. Those apps include unlocking hotel room doors, checking out library books and riding transit systems, he said. “Those who have been following NFC technology for a while know that payments is only one application of this technology,” Caso said. “We think transit payments