How Apple's iOS 8 boosts shoppers' buying power

Consumers will more easily be able to buy products via their iPhones with Apple's (NASDAQ:AAPL) new iOS 8 platform. The updated system will be available in September.

One way that iOS 8 boosts buying power is allowing the iPhone's camera to snap photos of credit cards to automatically populate credit card information fields. "That means no more arduous copying out of your card number, cardholder name and expiration date every time you want to complete a transaction online," TechCrunch reported. "Instead, it's a single-click thanks to optical character recognition, and it works automatically with existing Web forms, so there's no work required on the part of Web developers."

Plus, iOS 8's Continuity feature could boost online purchases. Handoff lets a user move from doing something on their phone to completing it on the desktop, and vice versa. "You can easily imagine how that might work with shopping online, as a user browses on their device and then moves to the Web to do more in-depth research, or shifts back to the iPhone to take advantage of credit card scanning to complete the check-out," TechCrunch reported.

In addition, Apple took a step toward advancing mobile payments by opening up the Touch ID fingerprint sensor on the iPhone to third-party app developers. Apple announced the initiative at its annual worldwide developer conference. Touch ID got just a brief mention, but this particular piece of news has the power to transform mobile payments and finally advance nascent mobile wallet technology.

For more:
-See this TechCrunch article
-See this FierceMobileRetail article

Related stories:, Apple pave way for more Bitcoin use
Apple advances mobile payments with Touch ID
Apple to employ iPhone 5s for new EasyPay POS system
Apple is getting serious about mobile payments
Apple to debut smart home platform based on iBeacon