Slideshow 7 iPhone 6s Payment Predictions

  • September 11 2015, 9:04am EDT
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Apple's latest iPhone could change the way people pay with a smartphone. Its updates improve Apple Pay and bring new tools to developers and merchants.

Touch ID Gets a Tune Up

The new version of Touch ID, which Apple uses for payments authentication, will be twice as fast, removing some of the friction involved in using a mobile wallet.

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Moving Pictures

Apple's new "live photos," which contain a second or two of movement (like the photos in a Harry Potter newspaper), echo the trend in facial recognition to require the users to blink to prove they are real. This could work well with apps that function as a photo ID, such as PayPal and the defunct Square Wallet.

$100 Pencil

The Apple Pencil, advertised as a companion to the iPad Pro, is a $100 gadget designed to improve the precision of Apple's touchscreen apps. It could also open up new uses for Apple products as mobile point of sale devices.

Popularity Boost

Apple CEO Tim Cook stated that last year's iphones were the most popular models ever. Apple is introducing an Android app to help consumers migrate their data to Apple's ecosystem, which should bring in more Apple Pay users (at the expense of Android Pay).

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Wallet App

As previously revealed, Apple's Passbook app is getting rebranded as Wallet, reflecting its transformation into a payment app and away from its original purpose of storing boarding passes and stadium tickets.

Retailer Friendly

Apple Pay is also becoming more open to different card accounts, including store-branded payment and loyalty cards.

Going Big with Small Merchants

Apple's ongoing work with Square will make it possible for the small merchants that rely on Square products to accept Apple Pay contactless payments.