Apple in Payments: What to Expect?

by Zilvinas Bareisis, March 3, 2014
Product Trends/ Reviews


This report looks at Apple’s assets and speculates how the company might use them to enter the payments space more aggressively.

There has been a lot of buzz lately that Apple is getting more serious about payments. Considering Apple’s track record of seriously disrupting the industries it chooses to enter, it is no surprise that Celent clients are keen to understand how Apple might move into payments and the resulting implications.

Apple is notoriously secretive, and we don’t claim to have any inside knowledge of the company’s actual plans. However, in the report Apple in Payments: What to Expect?, Celent makes educated guesses and assumptions about how Apple could play a bigger role in payments.

“Many brilliant engineering brains are working at Apple, so it is only fair to expect that Apple will surprise us all,” says Zilvinas Bareisis, Senior Analyst with Celent’s Banking Group and author of the report. “However, it is notoriously difficult to ‘crack payments.’ It requires specialty skills and big investments. Just because Apple has many relevant assets, including patents, it does not mean that this endeavor will be easy for them.”

This report reviews various payment-related Apple assets, including relevant patent applications. Based on Celent’s understanding of the payments market and analysis of Apple’s assets, the report describes a potential roadmap for Apple into the payments industry.

This 18-page report contains six figures and concludes with a brief assessment of key implications for the payments industry.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

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Table of Contents

Executive Summary




A Brief Overview of Apple’s Relevant Assets


What Will Apple Do in Payments?



Facilitation of Broad Payments Acceptance Online



Facilitation of Payments Acceptance in Physical Stores



Payments Disruption


Implications for the Industry






Card Issuers and Schemes





Leveraging Celent’s Expertise



Support for Financial Institutions



Support for Vendors


Related Celent Research


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