The iPhone 6 is expected to offer bigger screen sizes and a super-strong display, and it also might replace your wallet. According to a new report, Apple is prepping its own mobile payments system that could launch this fall alongside iOS 8 and the company’s long-awaited new iPhone.
According to The Information, Apple is looking to partner with major credit card companies like Visa to create a method for paying for goods in-store with nothing more than your iPhone. Visa itself just debuted its PayPal-like Visa Checkout service, but Apple's solution would likely aggregate multiple banks and credit cards. MORE: iPhone 6 Rumors: Specs, Sizes, Camera and More
The iPhone 6 has been rumored to ship with near field communication (NFC) technology for several months now, which would make mobile payments a no-brainer for the upcoming smartphone. There's also Apple's payment patent published earlier this year, one that would allow Apple devices to interact with point-of-sale interfaces over a "secure link" to ensure user data isn't compromised.
The Information's report says that Apple may decide to skip NFC altogether and instead opt for Bluetooth or Wi-Fi for transferring payment information. In this scenario, your credit card info would be stored on the Web.
The closest thing Apple currently has to a mobile payment solution is its Passbook app, which lets you store things like boarding passes and giftcards in a single location. Turning the iPhone into a wallet replacement could be as simple as making your credit card yet another item that can be saved to Passbook, complete with Touch ID verification to ensure no one else runs around spending your money.
Apps like Google Wallet and PayPal allow users to pay for products with their phones alone, so long as a store has a compatible point-of-sale system. There's no official word yet on an Apple e-wallet, but we expect to learn more soon as the iPhone 6's rumored September release window draws closer.
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