It’s been reported that Apple will not make access to the NFC chip in the iPhone 6 generally available to developers in the first year. A new report says that an Apple spokesperson has confirmed that the chip is for use with Apple Pay only. But that’s likely only temporary…
This doesn’t mean other developers won’t be able to access the chip in future. Touch ID was initially limited to unlocking the phone and authorizing iTunes purchases before later allowing third-party app developers like Mint to use the facility.
Apple recently joined the non-profit NFC working group GlobatPlatform which seeks to agree standards across the payment industry, and it’s been suggested that Apple’s support for NFC payment may lead to the end of physical bank cards within 2-3 years.
The NFC chip inside the iPhone 6 will be used to transmit a one-time code to authorize payments, which need to be confirmed by fingerprint on the Touch ID sensor. The NFC chip in the Apple Watch will allow payment via older phones; in that case, the watch must be authorized once per day and will remain valid for payment for so long as it stays in contact with your wrist.