Apple may be prepping mobile payment service featuring AuthenTec security

By on July 30, 2012 at 4:30 PM.

Apple may be prepping mobile payment service featuring AuthenTec security

Apple Mobile Payments EWallet

Apple (AAPL) on Friday acquired mobile and network security provider AuthenTec (AUTH) for approximately $356 million, a move that highlights the company’s transition to mobile payments according to one analyst. “The largest feature that could be added due to the AuthenTec acquisition would be a move to an e-wallet fingerprint service,” said RBC Capital Markets analyst Amit Daryanani, per The Financial Post. “While the current security offerings for the iPhone are solid, we believe fingerprint security could allow for a secure mobile e-payment service offering.” The analyst said that AuthenTec’s technology could also be used to unlock devices, make payments and bolster the security on Apple wares such as the iPhone, iPad and iPod touch, and notes that the buyout was viewed as “a technological acquisition.” The deal still requires regulatory and shareholder approval, however. BGR reported earlier this month that the next-generation iPhone will include NFC capabilities, which could play a significant role in any mobile payment service Apple might be working on. More →

No Comments