Hype for the new Apple iPhone X is reaching a crescendo.
We are past the gushing reviews stage. Next came the totally predictable news that pre-orders for the new handset exhausted supply within minutes of going live.
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That came on 27 October. Now comes launch day on 3 November.
By common consent the highest profile aspect of the iPhone X is Face ID.
And by just about common consent it is simple and intuitive to use.
Face ID not only unlocks the handset but is also used to authorise users for mobile payments.
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By GlobalDataThere is, says Apple, only a one in a million probability of a random person unlocking an iPhone with Face ID.
So we may now expect to receive a rush of comments from payments experts commenting on the Apple X potential to revolutionise payments.
The Apple X will remove friction; the biometric technology is so class-leading that consumer concerns about data security will be allayed; the Apple X will be a key inflection point in driving consumers away from cards to mobile as their preferred method of payments.
That is how the arguments will go and no doubt they will come from a number of influential payment industry thought leaders.
And they will of course be over be premature and over the top.
Predictions about the collapse in cards use are about as accurate as the industry experts prophesying that cash is on its last legs.
We do not all live in China, where WeChat and Alipay, with 960 million and 450 million users respectively, continue to clean up as the dominant forms of payments.
But no matter-the Apple evangelists have a new toy and albeit at a cost of the best part of £1,000 or $1,000.
The potential offered by mobile payments will attract widespread consumer press interest and that is all to the good.
Visa, Mastercard go from strength to strength
Meantime, Visa posted another stellar set of results. As CI goes to press, Mastercard has chipped in with third quarter results boosted by revenue growth of 17% and easily beat analyst forecasts.
Mastercard enjoyed double-digit volume and transaction growth across most of its markets. It is bullish about its latest acquisitions, NuData Security and Brighterion, enhancing its capabilities in behavioural biometrics and artificial intelligence.
Its partnership with PayPal in the US and Asia Pac has extended to Europe, Middle East, Africa, Canada and Latin America – so all in all Mastercard had reason to be upbeat.
Other highlights include its new prepaid programme with ADP, the largest payroll provider in the US.
Back at Visa, its fourth quarter earnings witnessed solid transactions growth of 13% globally and net revenue growth of 14%.
Beem set to launch in Australia
But arguably the most interesting story of the past month ahead of the Apple X launch comes from Australia.
ANZ is going it alone with Apple while Commonwealth Bank, Westpac, and National Australia Bank have formed an independently-run joint venture to develop a mobile wallet and payment system for smartphones on iOS and Android.
The app, dubbed Beem, will be available to all customers, not just those of CBA, Westpac and NAB.
Beem will be released at some stage later this year and will initially be targeted at P2P transfers rather than contactless payments at merchant terminals.
So early days but for Beem to take off, the earlier in includes an ability to make payments at point of sale the better.
