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Apple's Latest Acquisition Could Signal Push Toward Digital Wallet
(06/08/2012 15:15:23)

Phone Recycling - Apple's Latest Acquisition Could Signal Push Toward Digital Wallet

Apple’s Latest Acquisition Could Signal Push Toward Digital Wallet

Apple’s latest acquisition of a security company that has developed fingerprint scanning technology for mobile phones and computers, AuthenTec has cost $365 million. It is thought that Apple made this strategic acquisition to strengthen its in-house security technology in line with its desire to move towards a digital wallet which would enable mobile payments.

Amit Daryanani, an analyst with RBC Capital Markets commented:

“The largest feature that could be added due to the AuthenTec acquisition would be a move to an e-wallet fingerprint service…..While the current security offerings for the iPhone are solid, we believe fingerprint security could allow for a secure mobile e-payment service offering…. The fingerprint swipe technology could be used to unlock, make payments and bolster security on devices like Apple’s iPad, iPhone and iPod Touch and complement current payment services like iTunes.”

Apple Inc. has not commented on their purchase of AuthenTec, which has been developing specialist security technology since its formation back in 1998. During this time they have produced over 20  million fingerprint scanning sensors which have been used in mobile phones produced by companies including; Motorola, Samsung and Nokia all of which are significant Apple competitors. A further 80 million sensors have been incorporated into computers under brands including; Dell, Lenovo and Asus.

Not only does the fingerprint scanner provide greater security for the owner, protecting any confidential information held on your computer but it also provides a quick and easy way of accessing your computer for all registered users; who just have to swipe their finger over the sensor instead of entering usernames and passwords.

The deal which still requires regulatory and shareholder approval has proved profitable for AuthenTec shareholders, who saw the value of their shares rise to $8 per share overnight.

If you are thinking about upgrading your mobile phone before the end of the year and are possibly considering an upgrade to the much awaited iPhone 5 which is due for launch in the autumn, why not take a look at a mobile trade in deal or think about selling your old mobile to a company that buys phones for mobile phone recycling. Price comparison sites can be found online which will confirm the price that you would receive for your phone from a variety of companies, so that you can select the one offering the highest value and best level of customer service. 

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