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Biometrics Tech Companies Move Toward Mobile Payment Products with New Smart Wallet Options: New Patent Application to Integrate Intelligent Systems for Newest Smart Wallet
Date:9/3/2014

rd-on-iphone-wallet.html">http://www.bloomberg.com/news/2014-08-31/apple-said-to-team-with-visa-mastercard-on-iphone-wallet.html

Bloomberg cited "a person familiar with the situation" who said that Visa, MasterCard, and American Express are among the big names working with Apple to enable a new mobile wallet feature on the iPhone 6. The device will make its first appearance at a Sept. 9 launch event.

"The new iPhone will make mobile payments easier by including a near-field communication (NFC) chip for the first time, the person said," Bloomberg's Matt Townsend reported. "That advancement along with Touch ID, a fingerprint recognition reader that debuted on the most recent iPhone, will allow consumers to securely pay for items in a store with the touch of a finger."

New Life to NFC?

Apple is somewhat late to the mobile wallet game, a nascent yet rapidly growing industry. Companies already offering mobile wallets include Google, Citigroup and Macy's.   Apple could not immediately be reached for comment, but according to NXT-ID, a biometric authentication company behind a smart wallet called Wocket, Apple submitted a public patent application that describes a detailed backend architecture for a mobile wallet designed to hold digital credit and debit cards and coupons from a range of merchants and financial institutions. Read the full article at http://www.toptechnews.com/article/index.php?story_id=00200072XJX6

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