CUPERTINO (dpa-AFX) - Apple Inc. (AAPL) plans to turn its next iPhone into a mobile wallet through a partnership with major payment networks, banks and retailers, Bloomberg reported citing a person familiar with the matter.
The agreement includes Visa Inc. (V), MasterCard Inc. (MA) and American Express Co. (AXP) and will be unveiled on September 9 along with the next iPhone.
Quoting the person, the report indicated that the new iPhone will make mobile payment easier by including a near-field communication chip for the first time. That advancement along with Touch ID, a fingerprint recognition reader that debuted on the most recent iPhone, will allow consumers to securely pay for items in a store with the touch of a finger.
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