Apple May Introduce a Closed Loop Payments System

Payments Source has an analysis stating Apple is likely to introduce a closed loop payments system.

http://www.paymentssource.com/news/apple-mobile-wallet-likely-to-be-a-closed-system-report-3017158-1.html

Here is a snippet from that piece:

When Apple makes its long-awaited plunge into mobile payments, it is more likely to create a closed system for Apple customers than a truly open mobile wallet for all consumers, a new study from Celent says.

Admitting it does not possess any inside information from highly secretive Apple, research firm Celent's new report offers its "educated guess" as to how Apple is positioning itself for a future in payments.

A closed loop payments system is something very close to what gift cards currently deliver for merchants.  Here is a WikiPedia entry that provides some useful information:

http://en.wikipedia.org/wiki/Stored-value_card

Happy Reading,

J.W. Gant