ROSEVILLE, CA--(Marketwired - Sep 15, 2014) - Intrix Technology, a leading provider of payment processing technologies, commends the approach Apple is taking towards furthering the development of mobile payments with their announcement of a new line of NFC enabled iPhone 6 and Apple Watch devices.
Today, approximately 300 million mobile devices are used by the American consumer--consumers who carry more than one billion debit and credit cards. Many consumers would like to use their smartphone to complete the buying experience. Apple's adoption of the NFC standard will further that specific objective. Intrix believes that the major beneficiaries of this development will ultimately be the consumer and the retailers frequented by those consumers.
As one of the early adopters of tokenization, Intrix believes that Apple's use of a tokenized approach in their latest line of smartphones and their adoption of the Visa standards for tokenization and EMV is a major step in the right direction and a further catalyst for the continued growth of the mobile marketplace. What's more, in developing partnerships with the major payment industry players, Apple clearly understands the complexity of the industry and is addressing one unique aspect of the ecosystems -- replacing the swipe with a touch and go smartphone approach. Although immediate restrictions exist as to how fast this approach will be adopted, it is Intrix' view that, over time, adoption will be significant.
As phone-based payment options appear and evolve, the functions and security contained will continue to improve. Given the Industry's current move to a chip and pin EMV POS or terminal environment which is used by the rest of the world, Apple's timing is very strong. With NFC to be included on future system purchases, Merchants will avoid the need for a second costly replacement terminal. Intrix will continue to support the adoption of NFC and EMV technology and a variety of consumer friendly devices that reduce marketplace fraud.
"As a customer based company we will continue to be focused on the needs of our key customer, the Merchant. We believe that actions like those of Apple will benefit Merchants by helping to mitigate unnecessary fraud while enhancing the overall customer experience," said Intrix CEO Jeffrey Connors.
"Apple is a highly innovative company whose actions today will further enhance credit card growth and the continued move away from paper checks," noted Connors. "It is the natural next step in the evolution of the payments industry."
About Intrix Technology, Inc.
Intrix Technology, Inc., a leading technology enabled registered Independent Sales Organization, delivers innovative payment-processing solutions for developers, enterprises, retailers, processors and sales organizations. www.intrix.com
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Carol Felton
Communications & PR
Intrix Technology
T: 408.807.3780