Apple Opens NFC Gates: PayPal, Block Set To Transform iOS Checkout, But At What Cost?
Portfolio Pulse from Surbhi Jain
Apple's iOS 18.1 update opens NFC technology to developers, allowing PayPal and Block to engage more directly with iOS users, potentially reshaping the mobile payments landscape. However, this opportunity comes with financial complexities and challenges.
August 21, 2024 | 3:24 pm
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POSITIVE IMPACT
Apple's decision to open NFC technology to developers could redefine mobile payments, enhancing its ecosystem's attractiveness and potentially increasing iOS user engagement.
By allowing developers to access NFC, Apple enhances its platform's capabilities, potentially increasing user engagement and attracting more developers to its ecosystem.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
PayPal gains a significant opportunity to engage directly with iOS users through Apple's NFC access, but faces challenges in replicating Apple's monetization model and securing merchant buy-in.
The NFC access allows PayPal to bypass Apple Pay's limitations, potentially increasing its visibility and user engagement on iOS. However, replicating Apple's monetization model and securing merchant cooperation are significant challenges.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Block Inc. stands to benefit from Apple's NFC access, allowing for more direct user engagement on iOS, but must navigate financial complexities and merchant relationships.
Block's ability to engage directly with iOS users through NFC could enhance its market position, but it must address financial complexities and secure merchant partnerships to fully capitalize on this opportunity.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85