Apple Introduces iPhone
Apple this morning introduced the iPhone, combining three products: a mobile phone, a widescreen iPod, and what Apple calls a "breakthrough Internet communications" into one device. While the iPhone isn't going to be available for sale until June, t's interesting to speculate about the potential implications of this new device for banks - and their customers.
For example, odds are that almost every consumer with an iPhone will have an iTunes Music Store account. What's interesting about that? Every one of those ITMS users have either linked their Music Store account to a credit or debit card or they've loaded their account with prepaid value. In other words, they're equipped to spend. Today, that ITMS account can only be used to buy stuff at the Music Store. Where might it be possible to spend with that account in the future? What's the difference between that ITMS account and a Google Checkout wallet?
The iPhone runs Apple's Mac OS X operating system - which includes a secure Keychain utility for safe and secure storage of passwords, secure notes, etc. Keychain syncing across Macintosh devices is one of the features of Apple's .Mac service. As a result, with iPhone, you'll have full access to your secure Keychain with you at all times. What might the online authentication implications of this be?
The iPhone's built-in Safari web browser - with the portrait and landscape mode viewing - enables a potentially rich online banking experience for iPhone'rs, for banks that take advantage of it.
I suspect we're just scratching the surface of how the iPhone might make access to my financial life even more convenient and powerful. What would you like to do with it? You can add your comments below.
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