The iPhone 6 could replace your wallet

Apple has reached agreements with Visa, MasterCard and American Express for an iPhone-based mobile payment system according a report published by Bloomberg. Bloomberg's report suggests that the payment system will make use of the iPhone's fingerprint reader, along with a NFC chip said to be featured in the upcoming iPhone 6.

By Alex Choros

Apple has reached agreements with Visa, MasterCard and American Express for an iPhone-based mobile payment system according a report published by Bloomberg. Bloomberg's report suggests that the payment system will make use of the iPhone's fingerprint reader, along with a NFC chip said to be featured in the upcoming iPhone 6.

Apple's payment system would rival other mobile payment systems including PayPal and Google Wallet, as well as local mobile systems provided by Coles Mobile Wallet and the CommBank App.

Apple is expected to reveal this payment system at its September 9 event alongside the iPhone 6 and iWatch.

Source: Bloomberg

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