Apple’s Future iPhone Transaction App
An Apple patent application details a system by which customers can use their iPhone as an electronic wallet and payment system.
According to Patently Apple,
Apple’s patent is directed to various techniques for conducting peer-to-peer financial exchanges using a handheld, portable electronic device – which for the sake of simplicity is represented throughout several transaction-based patents – as the iPhone.
The iPhone may integrate several functionalities for performing peer-to-peer transactions, including the storing information representation a user’s payment accounts and crediting accounts, acquiring and sending payment information, and obtaining payment authorization.
A near field communication device may be provided for the acquisition of payment information. Apple calls its application “Transaction”, as can be seen in the attached images.
[Via iclarified.com]
Tags: Apple, electronic wallet, field communication, financial exchanges, iphone, payment