iPhone 6 To Have NFC, Mobile Wallet Based on Deal with Amex, MasterCard, Visa

by Tim Sloane 0

Bloomberg News claims to have the scoop! iPhone 6 will be NFC enabled and Apple has cut a deal with Amex, MasterCard and Visa to enable a mobile wallet.

“The new iPhone will make mobile payment easier by including a near-field communication chip for the first time.
Apple Inc. (AAPL:US) plans to turn its next iPhone into a mobile wallet through a partnership with major payment networks, banks and retailers, according a person familiar with the situation.
“The agreement includes Visa Inc. (V:US), MasterCard Inc. (MA:US) and American Express Co. (AXP:US) and will be unveiled on Sept. 9 along with the next iPhone, said the person, who asked not to be identified because the talks are private.
“The new iPhone will make mobile payment easier by including a near-field communication chip for the first time, the person said. That advancement along with Touch ID, a fingerprint recognition reader that debuted on the most recent iPhone, will allow consumers to securely pay for items in a store with the touch of a finger.”

It is likely there is more to the story not yet revealed. Apple has always been a design-forward company and has built a significant strategy around iBeacons; so anyone expecting an Isis Wallet clone is likely underestimating Apple. Indeed the much larger opportunity to link payment tokens and beacons together in a new open environment was identified by Mercator in this blog.

Apple of course is also known for making big reveals, so is the announcement on September 9 the big reveal or is it just a hint of what’s to come? While it would seem too early for Apple to have tied up all the pieces required for the big reveal, we’ll just have to wait to find out (unless reporters can dig up more!)


Overview by Tim Sloane, Vice-President, Innovation

To read the full story, go to Bloomberg News.