Apple’s upcoming next-generation iPhone could be even more multifunctional than you have ever imagined. One of the latest news claims that the device will also serve as a mobile wallet.
In its latest report, Bloomberg cites unnamed sources claiming that the iPhone 6 will support mobile payments. In other words, owners of the handset will be able to use it as a mobile wallet and make secure mobile payments in retail stores.
This new iPhone feature will greatly rely on Near Field Communication (NFC) technology. In addition, it will use the fingerprint recognition function with which iPhone 5S owners are already familiar.
Bloomberg also reports that, in order to order consumers most competitive service for mobile payments, Apple Inc. has teamed up with companies like Master Card Inc., Visa Inc. and American Express Co. Nevertheless, neither Apple, nor its rumoured new partners wished to comments on the news.
The new feature is expected to be unveiled along with Apple’s next-generation iPhone during a dedicated September 9 event. However, it is not clear whether the new feature will be supported by both the 4.7” and the 5.5” models or just by one of the devices.
A few weeks ago, Re/code also published a series of similar reports which suggested that the new iPhone will be able to function as a mobile wallet. Also, the website even shared that the U.S. technology giant has joined forces with Visa Inc.
Services for mobile payments are not something new or revolutionary. In fact, a number of smartphone devices which are available on the market already support such features. Among them is Samsung’s Galaxy S5. However, consumer awareness and usage of mobile wallets continues to remain rather low.
Therefore, Apple’s is probably hoping to change that by entering into this untapped market. The company is already dominating the U.S. mobile market. If it manages to popularize mobile payments, it will push its competitors out of its way.
Furthermore, according to Bloomberg, Apple may incorporate already existing iTunes accounts into its mobile service account. Given that currently there are 800 million iTunes accounts all over the world, the company’s new iPhone service may enjoy a unpredictable success.
