Apple's Tim Cook hints at expanded mobile payment strategy and more for Touch ID

Posted:
in iPhone edited May 2014
While stopping short of announcing an comprehensively outlined strategy for facilitating mobile payments, Apple's chief executive Tim Cook linked the concept with iPhone 5s' Touch ID system.



"The mobile payments area in general is one we've been intrigued with,' Cook stated in the company's earnings conference call with analysts today, adding, "It was one of the thoughts behind Touch ID."

Apple introduced Touch ID as a feature to make it easy and convenient to unlock a smartphone, but also made it optionally possible to verify mobile purchases made via the company's own iTunes Store.

It hasn't enabled any other online merchants to use the hardware device to verify purchases, nor has it opened up third party access to Touch ID's fingerprint scanner or the A7's Secure Enclave verification computing resources for any other purpose.

Cook reported a favorable public response to the existing functionality offered by Touch ID, stating, "we're seeing that people love being able to buy content, whether it's music or movies or books, from their iPhone, using Touch ID." He described the ability to verify iTunes purchases via Touch ID as "incredibly simple and easy and elegant."

And while he was quick to note that Apple currently has nothing specific to announce about the future features of Touch ID, he did state that "it's clear that there's a lot of opportunity there" in mobile payments.

"You can tell by looking at the demographics of our customers, and the amount of commerce that goes through iOS devices versus the competition, that it's a big opportunity on the platform a big opportunity on the platform," he stated.

Last week, the Wall Street Journal rather safely claimed Apple was "laying the groundwork" for a mobile payments systems for goods and services.

However, while hinting at an interest in developing support for Touch ID authentication of digital transactions outside of the iTunes Store, Cook also noted that "we're not limiting ourselves just to that," suggesting that there were additional uses of Touch ID beyond the seemingly obvious extension of existing purchase verifications in iTunes.



Prior to Apple acquiring AuthenTec as the cornerstone of its Touch ID strategy, the firm described its fingerprint scanner hardware as "the world's smallest authentication/navigation smart sensor in a durable package," and detailed its ability to work as a highly precise trackpad capable of recognizing subtle gestures.

AuthenTec specifically described its sensor as being able to function as a "precise cursor control for text editing," with support for "360 degree mouse navigation," "optical joystick emulation," or as a "unique turbo-scroll feature for rapid browsing of long emails, contact lists or websites," according to public information released by the firm prior to Apple's acquisition of the firm and its intellectual property.
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Comments

  • Reply 1 of 40
    herbapouherbapou Posts: 2,200member

    Now that something that could help the stock a bit tomorrow.

  • Reply 2 of 40
    tkell31tkell31 Posts: 216member
    Quote:

    Originally Posted by herbapou View Post

     

    Now that something that could help the stock a bit tomorrow.


    Given Cook's track record I think he needs to do more than speculate to get the stock to move.

     

    That isn't to say the stock won't recover in the coming days because it should run up as the ex date approaches.  I would be surprised if it doesn't recover half the drop by the end of the week.

  • Reply 3 of 40
    asdasdasdasd Posts: 5,066member
    If this work I will take back all my comments on Cook. I'll love him long time.

    What Apple could do here is get a percentage of the purchases of some of the world's richest consumers. It could use that to subsidise low end iPhones ( maybe without the touch ID to not dilute the consumer power) and pretty much any new products. I'd use it instead of a credit card so they would loads of money that way.
  • Reply 4 of 40
    Quote:

    Originally Posted by herbapou View Post

     

    Now that something that could help the stock a bit tomorrow.


     

    Too little, too late...

  • Reply 5 of 40
    Quote:

    Originally Posted by asdasd View Post



    If this work I will take back all my comments on Cook. I'll love him long time.



    What Apple could do here is get a percentage of the purchases of some of the world's richest consumers. It could use that to subsidise low end iPhones ( maybe without the touch ID to not dilute the consumer power) and pretty much any new products. I'd use it instead of a credit card so they would loads of money that way.

     

    The problem is that most customers who buy these cheap (free under contract) phones, don't know how to really use them, they just wanted a phone. 

     

    I say they keep the same prices and make money on this as well. You can't please everyone.

  • Reply 6 of 40
    asdasdasdasd Posts: 5,066member
    justp1ayin wrote: »
    The problem is that most customers who buy these cheap (free under contract) phones, don't know how to really use them, they just wanted a phone. 

    I say they keep the same prices and make money on this as well. You can't please everyone.

    Yes I said they should subsidise low end phones, or other products with this. The top end needs to sell to higher spenders. So needs be pricey.

    The question is - can apple make retailers take the percentage cut ( as they do for credit cards)? Otherwise there is less incentive.
  • Reply 7 of 40

    On another news ... after this announcement, our reporter caught Larry Page shitting his pant!

     

  • Reply 8 of 40
    tkell31tkell31 Posts: 216member
    Quote:

    Originally Posted by Disturbia View Post

     

    On another news ... after this announcement, our reporter caught Larry Page shitting his pant!

     


    Well that is disturbing.

  • Reply 9 of 40
    Quote:
    Originally Posted by tkell31 View Post

     

    Well that is disturbing.


    Hey, don't blame me. :p

  • Reply 10 of 40
    Depending on the iPhone 6, if it doesn't impress me, I won't be buying another iPhone. Touch ID is awesome, and if they added a cursor to it, it would be 10 times better, of course with a bigger screen and new features.
  • Reply 11 of 40
    Quote:

    Originally Posted by Achillies7 View Post



    Depending on the iPhone 6, if it doesn't impress me, I won't be buying another iPhone. Touch ID is awesome, and if they added a cursor to it, it would be 10 times better, of course with a bigger screen and new features.

     

    Sadly, I must agree with you.

    Having owned almost all models of iPhone,  I feel iPhone has become boring, stale even.

    Seems like Apple is now mostly concerned with milking and defending its past achievements instead of developing exciting, new gadgets.

    Oh, well... 

  • Reply 12 of 40
    clemynxclemynx Posts: 1,499member
    Sure, they just did a total UI a redesign and added fingerprint scanning... how boring is that, right?
  • Reply 13 of 40
    Quote:

    Originally Posted by AppleFanatic View Post

     

     

    Sadly, I must agree with you.

    Having owned almost all models of iPhone,  I feel iPhone has become boring, stale even.

    Seems like Apple is now mostly concerned with milking and defending its past achievements instead of developing exciting, new gadgets.

    Oh, well... 


    What feature would you have liked Apple to come out with in the 5s that someone else did?

     

    Or do you plan on not having a phone at all in the future until someone does something out of this world?

  • Reply 14 of 40
    Originally Posted by Achillies7 View Post

    if they added a cursor to it

     

    1. It’s a phone.

    2. It’s a touchscreen.

    3. Come off it with the false concern.

     

    Originally Posted by AppleFanatic

    Sadly, I must agree with you. Having owned almost all models of iPhone,  I feel iPhone has become boring, stale even. Seems like Apple is now mostly concerned with milking and defending its past achievements instead of developing exciting, new gadgets. Oh, well... 


     

    You've already reported this item. Thanks for helping to make our community better.

  • Reply 15 of 40
    john.bjohn.b Posts: 2,714member
    Quote:
    Originally Posted by AppleInsider View Post



    While stopping short of announcing an comprehensively outlined strategy for facilitating mobile payments, Apple's chief executive Tim Cook linked the concept with iPhone 5s' Touch ID system.



    "The mobile payments area in general is one we've been intrigued with,' Cook stated in the company's earnings conference call with analysts today, adding, "It was one of the thoughts behind Touch ID."



    Apple introduced Touch ID as a feature to make it easy and convenient to unlock a smartphone, but also made it optionally possible to verify mobile purchases made via the company's own iTunes Store.



    It hasn't enabled any other online merchants to use the hardware device to verify purchases, nor has it opened up third party access to Touch ID's fingerprint scanner or the A7's Secure Enclave verification computing resources for any other purpose.



    Cook reported a favorable public response to the existing functionality offered by Touch ID, stating, "we're seeing that people love being able to buy content, whether it's music or movies or books, from their iPhone, using Touch ID." He described the ability to verify iTunes purchases via Touch ID as "incredibly simple and easy and elegant."



    And while he was quick to note that Apple currently has nothing specific to announce about the future features of Touch ID, he did state that "it's clear that there's a lot of opportunity there" in mobile payments.



    "You can tell by looking at the demographics of our customers, and the amount of commerce that goes through iOS devices versus the competition, that it's a big opportunity on the platform a big opportunity on the platform," he stated.



    Last week, the Wall Street Journal rather safely claimed Apple was "laying the groundwork" for a mobile payments systems for goods and services.



    However, while hinting at an interest in developing support for Touch ID authentication of digital transactions outside of the iTunes Store, Cook also noted that "we're not limiting ourselves just to that," suggesting that there were additional uses of Touch ID beyond the seemingly obvious extension of existing purchase verifications in iTunes.

     

    Start by bringing the Touch ID sensor to the iPad.  Then add user profiles to iOS, leveraging Touch ID for user identification.  Everything will fall into place after that.

  • Reply 16 of 40
    Is "Touch ID" the same as the "Try Again" button?
  • Reply 17 of 40
    Good. What's the point of the Touch ID if I'm constantly having to tap in user names and passwords instead of just using my thumb?

    Other systems with fingerprint scanners have had this capability for a decade, so what gives?
  • Reply 18 of 40
    bakamono wrote: »
    Is "Touch ID" the same as the "Try Again" button?

    I used to think the same thing until I learned you scan a finger in more than once. I have each finger scanned in twice, and I rarely see Try Again thanks to that.
  • Reply 19 of 40
    Originally Posted by Cash907 View Post

    Other systems with fingerprint scanners have had this capability for a decade, so what gives?

     

    They suck. This won’t.

    They didn’t change the way payments are done around the world. This will.

     

    I know what you mean. ;)

  • Reply 20 of 40
    Touch ID Possibilities from Authentec spec:

    • Better loupe control or character positioning, swipe left/right to move cursor one character at a time, double swipe to move word (alt+-> for eg.)

    • Same as four finger gesture on iPad or Mac ie. change app/space in multitasking for a swipe gesture, up for multitasking? Might get confusing with control centre, but I still double tap home for media controls so... do that?

    • Joystick in games could be good

    • In-app purchases unless this is already covered, in which case Starbucks app -> In-app purchase coffee -> barcode/coupon added to passbook with preferences/drink options saved to their till? Would have to rethink that 30% though!

    Any other ideas? Some of the above posts have some good ones regarding ID, but what about as a input method?
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