Apple is planning to announce a new mobile payment system for its iDevices, which includes the iPhone 6 and the possible 13-inch iPad. According to a new report, it appears as if Apple is aiming to support Walgreens and CVS with the new mobile payment system.
The specifics of this particular deal went unreported, surprisingly. However, Recode explained that the two drug store chains will accept the "new iPhone payment system" at 15,000 collective brick-and-mortar localities. Such a deal would be very important to Apple, as large consumer adoption across the United States is required for a successful launch of the new service.
Walgreens and CVS are not the only ones Apple is in talks with. It is reported that the Cupertino company is attempting to court Nordstrom to adopt the new e-wallet, though it is not certain if a deal will be met before the announcement of the iPhone 6 or before launch.
It is said that Apple's so-called iWallet system requires NFC (Near-Field Communication) to work. The company has stayed away from adopting NFC in the past couple of years, so we had expected Tim Cook to come out in support of its own NFC-like technology instead; so call us surprised.
Other wireless protocols will also be in play here, but we are not sure what they are. We know that these wireless protocols is expected to allow touch-less purchases at terminals that support the system, and the iPhone 6 could turn out to be the first smartphone to support this feature.
Chances are; the iWatch may also support it, but that may not happen since it could increase the cost of the device, and may even add to the weight and size. And we know Apple is all about weightlessness and a slim, sexy figure when it comes down to its mobile devices.
Past reports have claimed that Apple had reached an agreement with several card issuing banks across the United States for low transaction fees. This is a clear sign that Apple could be working on a mobile payment system of its own.
It is understood that Visa, MasterCard, and American Express are all on board the Apple train.
Tech Times will be reporting extensively on the Sept. 9 event where Apple is expected to highlight the iPhone 6, 13-inch iPad, and possibly the iWatch.