Even before launch, Apple Pay the 'player to beat' in mobile payments

Though Apple Pay isn't even available to consumers yet, investment firm Morgan Stanley expects that Apple's mobile wallet service will become the industry standard and help drive wider adoption of NFC-based payment systems. Researcher Craig Hettenbach issued a blue paper to investors on Tuesday, a copy of which was provided to AppleInsider, to analyze the effect Apple Pay may have on the mobile payments industry when it launches on the iPhone 6 and iPhone 6 Plus this month. Because Apple Pay is compatible with the existing infrastructure and Apple already has such a large install base of users, Hettenbach believes that the company will have no trouble gaining traction.