Tech giant Apple is working with global semiconductor manufacturer NXP to add secure short-range wireless technology into the next iPhone, enabling new pay-by-touch capabilities. The next release of the iPhone is due to take place on 9 September.
NXP will provide the secure NFC chips that will allow an iPhone to connect with payment terminals or ticketing systems, as well as opening up the possibility for other applications in the ‘internet of things’. Currently only half of US smartphones are equipped with NFC.
In 2012, Apple was granted a patent for a mobile payments system involving NFC, indicating that iTunes could be used to manage credit card statements. Apple has made several subsequent patent applications for components of a mobile payment system, some working in conjunction with iBeacon, its Bluetooth-based location-sensing technology.