Apple Rumored to Be Resurrecting NFC Wireless Chips to Enable Mobile Payments

Sep 02, 2014

The release of the new iPhone is fast approaching (September 9), and according to WIRED the latest incarnation of the popular mobile device may include a NFC wireless chip to enable more streamlined mobile payments. And as Christina Bonnington points out, Apple is in an unusually good position to really make mobile payments mainstream:

"Apple is in the perfect position to launch its own mobile wallet. The Cupertino company has a vast trove of credit cards already on file thanks to iTunes (over 800 million, in fact), and a huge pool of potential users, thanks to the millions of iOS devices out there."

What the actual payment solution might look like is still a mystery. But according to ReadWrite the possible presence of a NFC chip would mean iPhone users could just tape their devices on terminals in stores and other locations to pay their bills or fares.