In addition to a pair of iPhones with larger screens, a smartwatch, and new versions of its mobile and desktop operating systems, a new report from The Information says Apple has been discussing a mobile wallet product so iPhone owners can pay for goods in physical stores with just their smartphone.
Numerous other mobile payment systems have been tried, including implementations from PayPal and Google, but if any company can succeed where others have failed, it’s Apple.
The report says Apple’s system “would involve a so-called secured element” in its phones, likely the “Secure Enclave” included in the iPhone 5s that stores and protects Touch ID fingerprint data so that it’s only accessible on the phone itself and cannot be reverse engineered, transmitted, or retrieved over the internet in any form.
Read more here.
