Apple Inc. boasts that its iPhone “changes everything,” but against the expectations of many bankers, it may not be changing payments–at least, not this year.

The consumer technology juggernaut does not plan to include a Near Field Communication chip for payments in the next iPhone, which is expected this summer. Apple’s trepidation over NFC reinforces a major hurdle for the technology: that a lack of common technical guidelines is likely to hinder its adoption for the foreseeable future.

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