Apple has reportedly tied up with the likes of Visa and MasterCard to announce the new service at its September 9 event along with the new iPhone.
Apple has already confirmed a September 9 event where the company is expected to make some major announcements. While a lot of buzz is around the next gen iPhone, new reports suggest the company may make a major announcement regarding new mobile payments. Apple is said to be in talks with several payment networks, banks and retailers for a mobile wallet service.
According to reports, Apple will be adding near field communication support for mobile payment, which will also make use of the Touch ID, the fingerprint recognition technology that featured on the recent iPhone.
“While companies including Google Inc. have invested in creating ways for phones to make payments in a physical store, US retailers have been slow to adopt the technology, thus limiting its use by shoppers,” Ben Bajarin, an analyst for Creative Strategies LLC in San Jose, California is quoted as saying. “That could change with Apple entering the market because iPhones have the largest market share in the US,” he said.
Apple has reportedly tied up with the likes of Visa and MasterCard for its iPhone Wallet service. Right now there's no word on the global availability of the service. However, we expect Apple to try out the new mobile wallet system outside the U.S.
Apart from the next gen iPhone and mobile wallet, Apple is expected to launch its new smartwatch, conviniently called the iWatch. The iWatch marks Apple's official entry into the wearable segment. According to recent rumours and reports, the iWatch will feature HomeKit function and 2.5-inch rectangular display manufactured by LG.
Source: Bloomberg
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