Users can download the free iWallet
app to further control the wallet as well as mobile devices--if they become separated by more than 5 meters, an alarm sounds on each device.
The fourth element is the tech giants' partnership with credit card companies - American Express, Master Card and Visa - and retailer that will ensure iWallet
is successfully implemented in most markets around and at the soonest possible time following the iPhone 6 commercial debut next week.
The move could allow iPhone users to readily engage in file-sharing (by tapping two iPhones together) and transform their device into an iWallet
for cash-less shopping experience.
According to (http://9to5mac.com/2014/05/29/apple-discussing-iphone-payments-service-with-high-profile-retail-brands/) 9to5Mac , this happening gained further traction as Apple is reportedly negotiating deals with partners that when finalised will allow iPhone users to buy upscale goods with the device acting as their iWallet
The prime use of NFC on the iPhone 6 is to (http://au.ibtimes.com/articles/553086/20140521/iphone-6-release-date-2014-specs-features.htm) transform the device into an iWallet
, according to the two investment firms.
According to Morgan Stanley (via (http://news.investors.com/technology/051314-700657-apple-ties-seen-growing-with-credit-card-networks-in-mobile-payments.htm) Investor's Business Daily ), it is likely that Apple will not include the NFC as part of its iWallet
But the introduction of new security technology may finally allow Apple to utilize its (http://www.ibtimes.com/iphone-5-features-rumors-7-ways-apple-may-implement-nfc-759511) many unused patents for near-field communication (NFC) , including those related to its mobile payments solution calledA (http://www.ibtimes.com/apple-iwallet-why-iphone-5-killer-feature-mobile-payments-427784) the iWallet