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Apple Reaches Agreement with China UnionPay for iWallet

According to a new report, Apple has reportedly reached an agreement with China UnionPay on a mobile payment service. The seal the deal Apple agreed to include NFC into their next generation iPhones. This isn't anything new to Apple as they have a very long list of patent-pending inventions on record for integrating NFC into their future iWallet system. Apple's future iWallet is likely to support both NFC and iBeacon solutions.


The sources in this latest rumor state that "Under the deal with China UnionPay, users would be able to download the bank card organization's app to Passbook in their iPhones and make mobile payments on over 3 million China UnionPay's "QuickPass" POS machines in China.


Accoring to BrightWire, in addition to NFC payment, the two companies will also work together on "another mobile payment solution" that can be used for purchases in Apple Stores," which is likely iBeacon.


Patently Apple first covered UnionPay's development of their electronic wallet back over a year ago at Intel's IDF conference. During one of Intel's keynotes delivered by Vice President and General Manager, Systems Software Division Doug Fisher, we discovered it was Intel who was first working with China's UnionPay to deliver an eWallet solution for smartphones powered by Intel.


Next generation smartphones powered by Intel mobile processor will use near field communications (NFC) and Intel's new Identity Protection Technology to help make secure mobile payments a reality. Intel collaborated with global bankcard network UnionPay.


Speaking during Fisher's keynote, Hongfeng Chai, executive vice president of UnionPay, introduced the UnionPay Quick Pass service that will used to pay for products everywhere from department stores to vending machines.


With Intel's work in setting up the system with UnionPay to work with NFC, Apple's move to now include this technology into the iPhone 6 has now become a necessity, if the rumor proves to be true.


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