Rumor : Apple To Launch an iWallet With The iPhone 6

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Rumor : Apple To Launch an iWallet With The iPhone 6

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We have been waiting to get our hands on the Apple’s new iPhone 6 with its new design. But while we wait, there are many other rumours flying high. Most recently, the rumors are that along with the launch of the highly anticipated iPhone 6, Apple will also launch a Google Wallet rival.

According to these rumors, Apple is in talks with major credit card company Visa to collaborate and create an iWallet technology that could revolutionize the way consumers pay for goods. As noted by the publication, a direct partnership with Visa — or  any similar company — would be a huge step in bypassing the payment processing chain, saving both merchants and customers money.

Apple is aiming to proceed with its payment system without handing over any control to wireless carriers, which may allow it to avoid difficulties that its competitors have faced. It has been expected for some time now that Apple would step into the mobile wallet sector and use the millions of shoppers who already store their card information with its iTunes Store and App Store. The iPhone maker has had to be cautious after seeing Google Inc. and others fail to rally users to make payments using their phones.


With partnership talks ongoing, Apple is also working out the technology behind a mobile payment system. The reports illustrate that the company at one point planned to integrate Near Field Communication (NFC) modules in its iPhone lineup, though other rumors claim the system will rely on Bluetooth and Wi-Fi.

In either case, sensitive customer information is likely to be stored in the iPhone’s secure enclave or alternatively in the cloud.

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Parul Ritvik Sood
iGyaan Network's newbie, Parul is a Writer, Poet, Reader and Mass Communication Graduate with great interest in startups and entrepreneurship.