New Apple iPhone to have mobile wallet function

  • Reuters
  • |
  • Updated: Sep 01, 2014 17:47 IST
Apple Inc plans to enable its next iPhone to become a mobile wallet by allowing owners to securely make mobile payments in a store with the touch of a finger, Bloomberg said, citing a person familiar with the situation.

The agreement includes participation by Visa Inc., MasterCard Inc and American Express Co and will be announced on September 9 along with unveiling of the next iPhone, according to the source, who Bloomberg said asked not to be identified because the talks are private.

Also read: What to expect at Apple's upcoming event

The new iPhone will simplify mobile payment by including a special communication chip, along with a fingerprint recognition reader that debuted on the most recent iPhone, the source said.

Officials could not immediately be reached at Apple, Visa, Mastercard and American Express.
 

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