If physical currency is eliminated and all currency becomes intangible, digital currency, all market access will be controllable through the network of banks and payment processors.
This means that your market access control, your ability to buy food, fuel, travel and sell goods and services can be limited or switched off for punitive and control purposes. This is a significant risk to human freedom.
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Apple Inc. is planning a new service that will let small businesses accept payments directly on their iPhones without any extra hardware, according to people with knowledge of the matter.
The upcoming feature will turn the iPhone into a payment terminal, letting users such as food trucks and hair stylists accept payments with the tap of a credit card or another iPhone onto the back of their device.
But the big question is, given Apple’s reluctance for competition against their own products, will they still allow the new Mastercard app which will be a direct competition to this? Apple’s app will likely work with Apple Pay, and Mastercard’s will likely work with Mastercard itself.
See https://mybroadband.co.za/news/smartphones/431680-iphones-will-soon-accept-tap-payments.html
#technology #ios #payments #NFC #Apple
#Blog, ##apple, ##ios, ##nfc, ##payments, ##technology
