Home
Mobiles
Mobiles News
Apple in Talks to Launch Its Mobile Wallet Service This Year: Report

Apple in Talks to Launch Its Mobile Wallet Service This Year: Report 4u1k

By Robin Sinha | Updated: 24 July 2014 13:47 IST

Facebook

Tweet LinkedIn Reddit Email Comment

Google News

Apple in Talks to Launch Its Mobile Wallet Service This Year: Report

ment

Apple, while preparing to launch its rumoured iPhone 6 handset in September, is reportedly also working towards releasing its mobile wallet payment service later this year, and work with the new handset. 734y1f

The Cupertino firm has reportedly entered into discussions with credit card institutions with its plans to introduce a new service by this fall that will enable iPhone device. To avail this feature, the s would have to give their banking information which will be ed in the "wallet".

According to a report released by The Informer (via 9to5Mac), Apple has discussed its mobile wallet payment plans with Visa, which is also said to be onboard with the project.

The report also adds that the 's banking information on the iPhone will be saved in a 'secured element', a piece of hardware onboard the device, and the service would run without any network carrier involvement.

It is being speculated that Apple's discussion of its mobile wallet payment service is in its preliminary stages for now. However, the report adds that the firm has already begun testing iPhone payments for iTunes and the App Store internally.

This iTunes-based mobile payment project is said to be headed by Jennifer Bailey, former Apple Online Store Chief, along with her team and from various other projects. Tommy Elliot, a former senior director for Visa, who ed Apple earlier this year, is said to be contributing his efforts. Andrew McCarthy, former mobile payments executive for J.P. Morgan Chase Bank, is also said to have ed Apple and be chipping in with the project.

If the firm actually introduces the mobile wallet payment service for the iPhone, it will probably use the Touch ID fingerprint sensor as a part of the authentication for the payment method, and forego NFC for Bluetooth and Wi-Fi to enable the transfer to the PoS system.

Comments

For the latest reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.