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Apple is developing iPhone Wallet – new payment system for its smartphone iPhone 6 in partnership with the major payment systems, banks and retailers. It is reported by Bloomberg.

iPhone 6, which will be announced on September 9, will be the first Apple smartphone, which will receive a contact-less payment chip NFC. Now Apple has serious business negotiations with Visa, MasterCard and American Express. Details of the agreement will be announced at the same press conference, where new device will be announced.

The new iPhone will simplify the payment process due to the built-in NFC chip and a fingerprint scanner. As a result, the user will be able to pay for products with just one touch of a finger. Representatives of the above companies have not commented on the negotiations.

Ben Bajarin, an analyst in Creative Strategies, said, that despite Google’s efforts to introduce its system Google Wallet, American retailers are slowly going forward. Bajarin believes that Apple will be able to change the situation.

Richard Crone, CEO of consulting firm Crone, notes that Apple already has experience with payment solutions, money transfer and storage of user data, such as the company’s service iTunes, which has 800 million accounts.

Previously, Apple has patented a chip that combines functions of NFC and charger. Media speculated that such a decision will introduce mobile payment function in smart watches iWatch, whose announcement is expected on September 9.

At the moment, only one company introduce “fingerprint” payment solution on the market – Samsung. Its smartphone Galaxy S5 allows customers scan their finger if they want to use their PayPal account.

Filed under: Marketing News

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