Apple said to be working with MasterCard and Visa for mobile wallet


The Apple event rumors are coalescing into a more coherent picture that indicate Apple planning to put Near Field Communication chips inside next-generation iPhones for a mobile wallet effort. The latest rumor is from Bloomberg, which quotes a source saying that the hardware giant is working with MasterCard, Visa and American Express on a payments platform around the NFC chip reported to be in the phone.

The goal, according to Bloomberg is to ready a mobile payments platform built around NFC in the upcoming iPhone to launch at the Sept. 9 [company]Apple[/company] event. While, every year, we seemingly hear of NFC launching in the anticipated iPhone, my colleague Kevin Tofel has written about how the looming transition to higher security payments that require using a password and chip inside cards in the U.S., and the utility of NFC’s tap-to-pair in a world of increasing connected devices, mean that Apple…

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