In the very last weeks, some news (and rumors as well) relating to Apple’s vision on Mobile Payment, have been published around the web, apparently signaling that the Cupertino-based giant, faster and faster is closing to define a key strategy in that high challenging market .
Hereafter an excerpt of such news:
Cloud (various blog, Linkedin discussion, tweet news, etc.), are venture a guess and arguing as well, futuristic previsions.
Someone is thinking about the technology driven next step of Apple (will be the iPhone really NFC equipped ?, will the mobile
hand-held device host the Secure Element, will the iPhone – or better the iPad- turn in a POS ?), some else imaging what they can do in the heavily regulated world of payments.
Everybody seems to be blocked in the only worldwide vision; by forgetting to focus on specific regions, very high is the risk to come to a possible misleading end.
In my post (this post), I’m trying to imagine the possible strategies, considering the regulatory point of view (constraints and opportunities), taking in account at least two separated scenario: 1st is regarding SEPA landscape (Euro Zone + EU + EEA + Switzerland), 2nd is regarding non-SEPA landscape.
IMHO, in the first scenario, I can see Apple really getting a Payment Institution license, according to 2007/64/EC – PSD, in one of the European state member (after an European subsidiary has been established, or after an European private company has been bought); then, thank to the passporting right, it can deal with its payment services proposition, through the whole SEPA market.
Otherwise, Apple can wait till the new EMD (2009/110/EC directive) transposition, get the license of new EMI (under a prudential regime very similar to Payment Institutions), start with issuing e-money (imagine: “iTunes currency” !) and providing payment services.
Although both the above opportunities, can be endorsed by Apple, by the creation of a hybrid subject (Hybrid Payment Institution o Hybrid EMI) and no NewCo should be needed, therefore they must make an alliance with a bank, where PI nor EMI, can hold deposits and cannot have the direct access (ex Art. 28 of PSD) to Payment Systems listed in the SFD – Settlement Finality Directive (but large “Apple PI” – or “Apple EMI”- might also acquire small bank in the future …)
In the second scenario, I can see Apple becoming really a bank
(Calif. based? …), providing the full banking/payment services out of Europe. To enter the European market, they can follow the same way depicted in the above mentioned my 1st scenario.
Since the glass sphere is not owned by me, can such story arise?
As I told before, that’s my personal view; anybody share the same?
See you, on CloseToPay blog.