Apple iPhone 6 could feature mobile wallet as Visa, MasterCard and American Express team up

Apple iPhone 6 could feature mobile wallet as Visa, MasterCard and American Express team up

As Apple iPhone 6 is just coming in some days, it could make things difficult for other players in the smartphone market. In this regard, the Cupertino giant has apparently taken a new step and has reportedly signed an agreement with major payment networks, including Visa, MasterCard and American Express.

According to a report by Bloomberg, citing an anonymous internal source, Apple has partnered with Visa, MasterCard and American Express to provide mobile wallet feature on its next iPhone. Though the agreement is expected to be officially announced at the event where the company would unveil its iPhone 6 on September 9, internal talks between all the three firms have been started.

The iPhone 6 will use its built-in near-field communication (NFC) chip to enable easier mobile payments and Apple’s fingerprint recognition sensor – Touch ID – will also be used allow consumers to securely pay for items in a retail store with the touch of a finger, the report says.

Apple’s new move towards mobile wallet technology would give a tough competition to other leading market players, including Google and Samsung. While the latter had already announced its alliance with Visa to accelerate mobile payments using NFC last year, the former is also in plans to make Android as a platform to enable the easiness of mobile wallet across the global markets.

So far, Apple has used its iTunes to provide a marketplace for purchasing content online. The addition of a Touch ID sensor on the iPhone 5s was brought a hope to enable mobile payments but the absence of NFC technology is likely to be the barrier on the avenue of the new payment method.

Some initial reports have suggested that Apple would unveil two iPhone models this year with 4.7- and 5.5-inch display sizes. The new iPhone is expected to run on iOS 8 along with additional features such as HomeKit and HealthKit. There are also speculations about Apple’s first wearable device which is so far rumoured as iWatch.

Categories: Rumours