The latest model of the Apple iPhone was the buzz all week. Much of the discussion was about what value the iPhone 5S and 5C brings to the company, its suppliers and even other companies.
The newest iPhone has the technology called 'Touch ID', which is a fingerprint scanner that is built under the solo home button of the iPhone This would help unlocking the phone much easier but would also be utilized to make payments over their new Apple iPhone.
There are a few companies that operate in the financial services industry that wouls stand to benefit from the new technology installed in the iPhone. These would be Discover, eBay and Intuit.
eBay, the ecommerce platform, would stand to benefit through payment processing done through its payment processing, Paypal. With a payment volume worth USD14 billion, the new software can be helpful as a security measure for online payments. Another firm would be Discover, as it had partnered with Paypal on 'in-store location' payments. The third firm is Intuit, the maker of turbotax, quickbooks and other software.
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