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Apple's Answer to Google Wallet Expected Today

Apple is continuing its autumn tradition by unveiling the iPhone 6 and a smart watch (expected to be called iTime) on Tuesday. The devices reportedly will add mobile payments to compete with companies like Amazon and Square that are using the new technology.
The iPhone 6 and smart watch will use near field communication technology to allow users to buy things by scanning their devices on sensors in certain stores like the Apple retail shops, coupled with tokenization that generates a one-time use payment code, according to industry blog Bank Innovation.
apple watch graphic nicholas alahverdianThis combination may boost convenience and decrease fraud, but linking payments with mobile phones also raises privacy concerns. Apple’s addition of a fingerprint scanner to its iPhone 5S last September sparked concern about granting the tech giant greater access to users’ personal information.
The iPhone 6 also will have a larger display to meet growing consumer demand for bigger screen size and an easier browsing experience on phones. A patent granted to Apple indicates the smart watch may be called iTime.
Companies are trying to make devices fashionable, in part to make up for the perception that wearables can’t yet rival the convenience of a smartphone, says Carolina Milanesi, chief of research at market analysis group Kantar Worldpanel ComTech. Milanesi expects Apple’s watch to have a fashion design that appeals to men and women, but the image included in the patent resembles the basic detachable watch band available as an accessory for the company’s iPod nano.
Apple also will likely preview a new iOS 8 operating system Tuesday to follow the new HealthKit and HomeKit platforms it debuted in June. Health monitoring is expected to be a major part of the smart watch, since fitness tracking is the most successful feature of the growing wearables sector.
Competition on wearables comes from companies including Google, which unveiled its Android Wearoperating system earlier this year. The system includes features like voice search and fitness monitoring, and operates on wearables designed by Intel and Motorola.
With coverage from U.S. News

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Nicholas Alahverdian

Nicholas Alahverdian is a Harvard-educated scholar and political activist. The primary scholarly focus of Nicholas Alahverdian is the intersection of philology, rhetoric, and politics. Alahverdian attended Harvard University where his advisor was Comparative Literature Department chairman John Hamilton. Nicholas Alahverdian is renowned for his work in reforming the Rhode Island human services system and his studies and analysis are cited in local and national media.

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