iWatch mobile payments could change everythingApple's rumored smartwatch is reported to have an NFC chip. CNET's Bridget Carey explains how putting NFC in a watch could be the key factor in changing how we pay -- and more.
Apples iWatch could change everything for mobile payments. I'm Bridget Carey and this is your CNet Update. Apple will reveal the next iPhone on Tuesday and we're also expecting Apple to show off it's. Smart watch which many are calling the iWatch. Multiple news outlets report that this new iPhone will have technology for mobile payments and the Wall Street Journal reports that the iWatch will also have this ability with an NFC chip. It would be something where you could tap your device to the register to pay instead of swiping your credit card. This is not a new concept for Android owners who could do this for years with Google wallet on their phones. But the real game changer here is doing this with a watch. Forget the phone. The truth is it doesn't save you that much time to take out a phone, then it does to take out a wallet. You're still having to pull out something from your pocket or purse. But smart watch payments are a different story. If Apple does this right, it actually would save time and make the process seamless, when you simply extend your wrist forward to pay. That, my friends, is what will be the ah-ha moment to using mobile payments. NFC Tech can be used for other things too. What if you could unlock the front door to your home with a watch tap, instead of fumbling with your keys when you're carrying groceries? Or pay for train tickets instantly when you hop aboard. Seen a text message pop up and how far you walked, yeah that's cute. But NFC payments will be the X factor that shows the worth of a smart watch. But will people trust Apple with their credit cards when celebrities can't trust to have naked photos on iCloud. Apple has been criticized for it's iCloud security and to answer those critics, Apple's CEO, Tim Cook, told the Wall Street Journal that changes are coming so that you will get an email alert and a push notification when someone's trying to upload your Cloud data to a new device. Or change the password or when a new computer logs into an account for the first time. Many of the celebrity accounts were compromised because hacker could guess their security questions. But back to smart watches. Apple's iWatch will only be a game changer if you don't need to keep recharging it three times a day. So battery's going to be a big factor too along with style. It's a challenge that's also faced by the new hero of the Android watches, the Moto 360. Motorola's smart watch is now on sale for two hundred and fifty dollars but in our early time spent with it the battery lasted about a day. It also looks pretty big on a thin wrist like mine but according to the New York Times, Apple may be addressing that problem by creating two different sizes for it's smart watch. That's your tech news update, you can get a closer look at the Moto 360 and other smart watches at Cnet.com, and we'll be covering the Apple announcement live on Tuesday at 10:00am Pacific, 1:00am Eastern. From our studios in New York, I'm Bridget Carey.