NFC Enabled iPhone 6 Mobile Wallet Will Let Users Buy Physical Goods

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Looks like Apple wants iPhone 6 to become a one stop solution for all consumer needs. Reports indicate iPhone 6 could be used as a mobile wallet.

iPhone 6 owners can rest assured because they will be able to buy from online stores with enhanced security and simply by the touch of a finger. The report is from Bloomberg who referred to a person with knowledge in this matter.

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The source gave the information to Bloomberg on condition of anonymity. If the source is to be believed, Apple has struck an agreement with American Express, Visa and MasterCard so iPhone could function like a mobile wallet. Details about the agreement will be announced on September 9 when the next iPhone will reportedly be unveiled.

A lot of customers nowadays prefer paying using their mobile phones. The upcoming iPhone will make the mobile payment procedure simple. The technology used for it will be NFC or near field communication. Along with NFC, a fingerprint recognition reader will be packed by iPhone 6 so users find themselves at ease while making a payment.

Fingerprint recognition reader is not new though; it made its debut with iPhone 5S. There’s no info as to whether or not the mobile wallet functionality will be restricted to selected geographical locations. A very important thing to bear in mind is Apple is not the first company to integrate its device with mobile wallet. This has already been done by Google. But this move by Apple will will consolidate the company’s existing user-base and fetch new users.

Some experts praised the move by Apple. They said “Love it or hate, Apple drives a lot of standards in the industry…they (Apple) are the mover in these markets. When they do something, the industry seems to follow.” But even though praiseworthy, NFC enabled mobile wallet is not trendsetting at any rate.

Question is why Apple thinks the idea of integrating mobile wallet will be a success. A chief reason is the Cupertino tech giant is believed to have the largest stockpile of credit cards in the world. Even though it is not officially confirmed, a lot of sources have confirmed it. The number of iTunes account holders is more than 800 million. They already enjoy easy online purchase of digital items like movies, music, eBooks and iTunes apps.

The new iPhone will deliver user’s convenience to the fullest. Apple’s tie-up with Visa, American Express and MasterCard and NFC integration will come handy for Apple. Moreover, users are currently paying for digital goods whenever they are purchasing from iTunes. But with iPhone 6 mobile wallet they’ll be able to buy physical goods.

The rumor of iPhone 6 bringing in NFC was first heard from a MacRumors forum member. He examined the bare logic boards from two variants of iPhone 6 and said he has identified the location for a connectivity package with 5 mm x 5 mm. The location in the logic board is square shaped and doesn’t correspond to any technology that iPhone 5S has.
The user concluded the location is for NFC chip. At this moment we can only hope this observation will come true and wait for the release of iPhone 6.

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