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It looks like the process of making payments in physical stores via mobile phones will be taken to new height, as soon as Apple announces its next generation iPhone at its September 9th event. According to Bloomberg's source, familiar with the matter, the iPhone 6 would be able help users make payments with just a touch of a finger.
The same source who chose to be anonymous also said that the Cupertino giant has also partnered with Visa, MasterCard and American Express to make the mobile wallet payments easier. However, the representatives from Visa and American Express didn't respond to the alleged partnership, the report read. Anyways, the same agreement between Apple and the financial firms would also be highlighted at the event next week.
As far as the mechanism employed in the process of making payments are concerned, it was reportedly said by the same source that the new iPhone would use the near-field communications (NFC) chip, along with a Touch ID, Apple's fingerprint sensor that we have seen in the iPhone 5s, earlier this year.
However, since Google has already been using the similar payment mode using mobile wallet but so far, in the US, it is not much of a regularly used feature. On the other hand, since Apple houses the largest collection of credit cards on record for any company, with over 800 million iTunes account holders who presently enjoy a seamless purchase experience for digital goods like apps, movies, music, and ebooks, the new payment mode integration on the iPhone 6 should be a massive success in the American market.
On the other hand, its not clear whether the mobile wallet functionality will be limited to certain markets or not. But Since the day is not too far, cross your fingers and hold your breath until the September 9 event for confirmed details on the iPhone 6 in a wholesome fashion.