Next generation iPad and iPhone to have technology for wireless mobile payments
Apple plans to enable users of its iPad 2 and iPhone 5 to make wireless purchases.
Consulting firm Envisioneering Group director Richard Doherty told Bloomberg that the next-generation iPad and iPhone will feature payment technology leveraging NFC (near field communication), technology that allows exchange information at a distance of up to 4 inches.
Doherty suggested both products are likely to be introduced this year.
With the service, customers could make payments from an iPad or iPhone from any store or restaurant, said Doherty.
At present, Apple has to pay credit-card processing fees on every purchase from iTunes. By facilitating consumers use their bank accounts directly, Apple is likely to reduce its own costs as well as those of retailers selling its products.
Last year, Apple had hired Benjamin Vigier, who worked on NFC technology at mobile-payment provider MFoundry.
The company has also applied for a patent on a system that uses NFC.
Google has already included NFC technology in its Android 2.3 build that is available on smartphones.