With only six days to go until the iPhone 6 is released, rumors continue to swirl. The newest is that Apple is partnering with Nordstrom to launch its mobile payment system, iWallet.

Apple has been expected to enter the mobile payment market for some time now, and the inclusion of a near field communication (NFC) chip in its new phone would all but confirm its entrance into the market.

Nordstrom has reportedly been chosen by Apple to help launch iWallet because of its strong social media presence and high-end selection of products. Not only that, but Nordstrom has reportedly also upgraded its point-of-sale system to include hardware that will work with the latest version of Apple's iPhone.

Apple has been known to work with luxury fashion brands in the past. Last year, Apple partnered with prestige British clothing company Burberry to promote the iPhone 5s' camera during a fashion event.

Not only is Apple partnering with Nordstrom, but it is also reportedly in talks with Visa, MasterCard and American Express. American Express and MasterCard have both refused to talk about the possible partnership, however Visa has said it has reached a deal with Apple.

While mobile payments may be a huge feature for the iPhone 6, even if it fails there are a number of other things that NFC chips can do.

NFC chips have three modes -- "card emulation," which is used for mobile payments, "peer-to-peer mode" and "reader/writer."

Peer-to-peer mode essentially allows users to quickly pair with another device and transfer files and data. Devices can be paired with other devices that have an NFC chip inside or that feature Bluetooth Low Power. An example of this would be Beats speakers, which feature an NFC chip and which Apple just happened to recently acquire. Users would be able to take advantage of Beats' "tap to pair" function, in which they simply have to tap their phone against the speakers to pair the two devices.

Reader/Writer mode allows the NFC chip to read nonpowered "tags." Basically, if a user sees a flyer with an NFC tag on it, they can tap the tag to access the information. That information might be something like a map to a store or information about a particular product. This could be very useful for developers. For example, if NFC tags were placed on food items with nutrition information, it would make tracking dietary intake much easier.

The inclusion of an NFC chip is just one of the rumors surrounding the iPhone 6. Rumors yesterday hinted a larger and sharper display, as well as upgrades to iMessage and the inclusion of HealthKit. Rumors are sure to continue to surface until the device is finally announced on Sept. 9.