Why No NFC in the iPhone Hurts Banks More Than Apple

It took almost two decades for credit card payments (followed by debit cards) to become globally ubiquitous, so it might be reasonable to think that a paradigm shift at the POS will take years to become mainstream.

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Why would you spend money deploying expensive NFC-enabled (Near Field Communication) POS terminals unless consumers were going to use them, right? Is this why Apple chose to snub NFC technology in its latest iPhone?

In normal circumstances, if there were no competition, this would make good business sense.

Read the article to see how this could affect your CU.