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Will The iPhone 4 Help People Move Toward Virtual Wallets?

by on October 18, 2011

Apple hit a record by selling 1 million iPhone 4 models in just twenty-four hours recently. One of the things that made this model so popular is the virtual assistant app that Apple recently purchased called Siri.

The network congestion was horrific thanks to so many people using this new features, which begs the question – if people like this type of technology so much, will they turn their eyes to virtual wallets like Google Wallet next?

Google Wallet uses Near Field Communication, or NFC, technology for their wireless payments, and it’s rumored that the iPhone 5 may include that same technology to build a powerful mobile payment system.

While this could lead to some serious problems initially – like retailers being unable to process mobile payments and the jealousy of other companies if Apple’s system takes off – the reality is that wireless payments are just as safe as plastic credit cards, and if anyone is going to popularize this payment method in the US, it’s likely to be a company like Apple.

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