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Bloomberg: Apple's Teamed With Visa and MasterCard on an iPhone Wallet

Illustration for article titled Bloomberg: Apples Teamed With Visa and MasterCard on an iPhone Wallet

Over the weekend, it was rumored that Apple was working with American Express to turn your iPhone into a smart wallet. Now, a new report suggests that Apple is also teaming up with Visa and MasterCard, too.


Bloomberg reports that a person familiar with the situation has told it that Apple is in the process of setting up a "partnership with major payment networks, banks and retailers." The rumor reaffirms Recode's suggestion that Apple is working with American Express, adding MasterCard and Visa to the list.


The report suggests that the new iPhone will include a near-field communication chip—an addition which has been rumored for a very, very long time. Alongside TouchID, Bloomberg explains, that technology will "allow consumers to securely pay for items in a store with the touch of a finger" by lining their device to their credit card. The news wire claims that the new smart wallet system will be announced on September 9th at Apple's iPhone event.

With reports now by Recode, The Information and now Bloomberg all focussing on a real, working Apple smart wallet, there's some weight behind these rumors. But given that NFC has continually been expected on the iPhone while never actually appearing, it's still worth taking a good o'l pinch of salt with the rumor. Let's wait until the 9th to find out. [Bloomberg]

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NFC in the new iPhone will be dandy, but using it requires NFC point-of-sale terminals. How many of those are actually out there?