An iPhone-driven e-wallet service from Apple could simplify checking out at the store by presenting users with options based on data such as their location, current balance, or applicable rewards cards.
With Apple rumored to launch a mobile e-wallet in the coming years, potentially as soon as this year, one analysis has noted that the iPhone maker could have a leg up on previous efforts, like Google Wallet, because of the fact that Apple already has hundreds of millions of users' credit card numbers tied to their iTunes accounts.
The latest leak claiming to show parts from Apple's next iPhone offers a closer look at a mysterious internal component located next to the earpiece, revealing it does not house a near-field communications chip.
Apple's new Passbook feature in iOS 6 isn't just a coupon app; it's a framework that enables retailers to develop smart apps for transactions, without relying on new Near Field Communications (NFC) hardware to do so.
Google has revealed plans to enhance its Wallet service with location-aware store cards, boarding passes and event tickets, much like the Passbook feature found in Apple's forthcoming iOS 6 iPhone update.
Apple's Passbook application in iOS 6 will likely be enhanced with digital wallet and ticketing services thanks to a near-field communications chip in the company's next-generation iPhone, according to an executive with an airline information technology company.
Apple on Tuesday was granted a major patent pertaining to the rules and methods of electronic payment transactions, as well as a detailed description of how future devices could implement the parameters to create a seamless credit card-based system with an iTunes backend.
Credit card card companies are working to push consumer payments away from plastic cards and into more secure electronic forms, but a MasterCard representative has acknowledged that getting NFC into Apple's iPhone will be critical in advancing the technology into the mainstream.