Apple might be launching a mobile wallet alongside the iPhone 6, according to The Information. The company is reportedly in discussion with various banking institutions and credit card associations, including Visa who has allegedly agreed to work with the unannounced payments product.
The Information writes that the purported system will store a user's financial credentials on their smartphone's secure element, a tamper-resistant piece of hardware meant to house sensitive data. Details about how Apple intends to handle information transfer remain unclear. It is believed that the company has informed partners that it intends to utilize near-field communication chips. One of The Information's sources has also stated that Apple may opt to focus on Bluetooth or Wi-Fi instead. If reports prove true, it looks like Apple aims to proceed without surrendering control to wireless carriers, which in turn may allow it to circumvent some of the difficulties faced by the competition.