Rumors have been circulating that Apple's iPhone 6 will feature near field communication payment capabilities. A rumor that comes up every time that Apple will be releasing a new version of its flagship mobile phone.
Apple has interestingly not entered the mobile payments field, despite its competitors already doing so with Google Wallet, Square and Isis.
NFC has long been rumored to be included in the iPhone, but the technology has not made it into the smartphone's production models. Pictures of the iPhone 5 that showed an unknown component connected to the device's logic board was thought to signify NFC support, but the component turned out to be an ear speaker.
However, Apple's decision not to include NFC technology in the iPhone may be due to the fact that it is working on something else entirely, namely a mobile payments system that relied on the iBeacon combination of Wi-Fi and Bluetooth.
Sources say that Apple will be featuring its own payment platform on the iPhone 6, and that the platform will be one of the smartphone's hallmark features upon its unveiling on Apple's Sept. 9 event.
Apple is currently already in prime position to launch its own mobile payment platform, especially with the millions of credit card information that the company already safeguards that are linked to the iTunes accounts of Apple users.
Past moves by Apple also point to the fact that the company is gearing itself up to enter the mobile payments market. Over the years, Apple has filed several patents that are connected to a mobile wallet platform. One patent, which was published in January, discussed the methods through which dual wireless protocols such as Bluetooth and NFC can be connected to complete transaction, with confidential information being safely stored in a "secure element" within the hardware of a mobile device. Another patent filed by Apple discusses a payment system that knows the context and location of the user's purchase, allowing the system to offer the user with relevant options such as coupons and rewards cards.
With the millions of devices using the iOS, having the iPhone 6 that feature its own mobile payment system will present a huge opportunity for Apple to expand the services that the company and its smartphone offer.
The iPhone 6 is also said to come in two sizes, with a 4.7-inch model and a 5.5-inch model. The new generation iPhone is set to be unveiled on Sept. 9, perhaps with the much-anticipated iWatch.
