NEW YORK ( TheStreet) -- TheStreet's Real Money Pro contributor Chris Versace wrote an excellent article over at Forbes speculating that Apple's (AAPL) iPhone 5S could further spur the burgeoning mobile-payments market.
Versace anticipates Apple will leverage technologies such as fingerprint recognition and its massive database of iTunes' account holders (with credit card information on file) to help mainstream mobile payments.
I couldn't agree more. In fact, I expect Passbook and Siri to be key in Apple's continued evolution of its iPhone. And why not the iPad as well? How many people do you see walking around with iPads in retail environments? Quite a few where I roam. No iPhone? No problem. Use your iPad to pay.
Versace's piece jibes with my recent work on the topic: Is There a Media Conspiracy Against Apple? (includes speculation on role of Siri in Apple's future) Tech, Small Business Can Learn Plenty From Starbucks (SBUX) Apple: iPhone Does Not Need to be RevolutionaryThose three articles, alongside Versace's, piece together the Apple and Apple-related storylines most seem to miss: * The evolution of products such as Passbook and Siri represent innovation at Apple. Expect these platforms to continue to get better and increasingly become significant -- as well as sticky -- features not only on mobile devices such as iPhone, but in the living room or on the wrist if Apple decides to go there. * Starbucks innovates more than most of tech. It doesn't need to introduce some new fancy product to innovate. In fact, the products it sells are background noise to the user experience it creates via mobile and digital platforms. It takes existing technology and applies it to everyday life more effectively than most. With mobile payment, app and gift card initiatives, Starbucks provided the first major mainstream push to mobile payments. Such a shame that it takes a coffee company, in conjunction with an aggressive startup, to do what big banks and PayPal can't seem to get done.
* Because it's more like Starbucks (thank heavens), Apple will likely take the puck from Howard Schultz and Adam Brotman and crash the net. Apple doesn't need to take a smartphone that sells millions upon millions of units across the world and dominates mindshare in the markets where it matters most and change it. That would be a disaster. A prime example of Tim Cook fixing something that ain't broke. It just needs to make that device more useful. Stickier.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV