Apple Reportedly Signed an iWallet Deal with American Express
It's been a very busy month covering the various rumors about Apple possibly preparing to finally launch their iWallet application for the iPhone 6. On Thursday we reported the buzz that's building for Apple's Wallet and on Friday we reported on the new NXP NTAG I2C NFC solution that covers not only mobile devices but also in-home automation that Apple could take advantage of. Today, Re/code has breaking news that Apple has reportedly reached an agreement with American Express for an iPhone payments system. Update #2 Nordstrom possibly in talks with Apple; Update #1 6:30 PM MST
According to a new Re/code report, "Apple has reached an agreement with American Express to work together on its new iPhone payments system, according to sources familiar with the talks. American Express is one of several partners Apple will need to sign up before it can launch its new payments plan, which sources say it plans to announce at its September 9 product event.
Apple's new payments system is expected to let iPhone 6 owners use their phone in place of a credit card or cash to pay for goods in brick-and-mortar stores. Customers will present their phones at the checkout counter of partnering retailers to transmit payment information to complete a purchase."
Yet Apple also plans to allow future iWatch users to easily be able to make purchases in retail establishments as we noted in one of our key patent reports this week.
The iWallet buzz was first resurrected back in July when a report claimed that there was a possible deal between Apple and Visa in the works.
Apple's first patent win for an iWallet surfaced in 2012 in our report titled "Apple Wins Patent for iWallet: The one that will rule the World." Another iWallet patent came to light in late July concerning security controls for a future iWallet application. You could read more of Re/code's report by Jason Del Rey here.
Update #2 Sept 3, 8:44 MST: The Bank Innovation site reported yesterday that "Department store Nordstrom is reportedly in talks to be one of Apple’s early merchant partners when the company unveils its new payments platform soon, according to sources with knowledge of the discussions." Whether this is simply hype for Nordstrom or a new development is unknown at this time.
About Making Comments on our Site: Patently Apple reserves the right to post, dismiss or edit any comments. Comments are reviewed daily from 4am to 7pm PST and sporadically over the weekend.
You could review of Apple's iWallet Patent Applications in our Archives here.
Update 6:30 PM MST: Bloomberg adds late this afternoon that MasterCard is also onboard.
Comments