Apple will allegedly push to make the iPhone 6 a mobile wallet thanks to deals with major companies such as MasteCard and Visa, according to reports.
The idea that Apple would turn its TouchID functionality into a remote payment service has been circulating for some time, but now prominent publication Bloomberg claims it is definitely happening with the next iPhone handset, due for launch on September 9.
Bloomberg cites its source as an anonymous “person familiar with the situation,” who revealed that Apple has inked a deal with several key players including Visa, MasterCard, and American Express, as well as major banks and retailers. Apple will reportedly unveil the new service as it launches the new iPhone 6.
The report adds that the iPhone 6 will be the first Apple handset to include an NFC chip and this will form part of the mobile payment functionality, alongside the existing TouchID fingerprint scanner as a means of verification on payments and money transfers. Apple, Mastercard, AE, and Visa have all declined to comment when approached by Bloomberg.
It’s believed Apple is pushing this technology now for several reasons, not least creating another revenue stream from its bank of over 800 million iTunes account holders. On top of that some allege that this move has massive marketing and advertising potential for Apple. Historically Google has lead the way on embedded advertising in its products but some analysts estimate Apple’s mobile waller could generate as much as $300 per year per user from targeted ads alone.