Apple partners with Visa, Mastercard and American Express to launch biometric mobile wallet

Bloomberg reports that Apple has partnered with the big 3 credit card providers- Visa, Mastercard and American Express- to launch a mobile wallet, according to a person familiar with the matter.

The agreement will be officially announced on September 9, along with the next version of the iPhone.

The wallet will enable Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term from the iPhone, secured by Touch ID, a fingerprint recognition reader launched in the most recent model. The next edition will feature a near-field communication (NFC) chip to enable these payments.

Commentators say that Apple hopes that the functionality will draw and keep users within its ecosystem. Its iTunes platform, which until now has served as Apple's marketplace, can be expanded to generate advertising revenue from consumer brands vying to reach shoppers while in store.

Although Google has also invested in such technology, merchants have been slow adapting it. Some anticipate retailers warming up to Apple more quickly, citing ther ability to set standards in the industry and then get others to follow.

On Bloomberg, the article has garnered comments from Bitcoiners, more accustomed to hearing the "mobile wallet" terminology in the context of the technology they're loyal to. One of the most recent comments reads, "WHATEVER APPLE, I'm just going to ignore your stupid wallet and stick with my Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term wallet for mobile payments."

Several permutations of apps, enabling in-store purchases with bitcoin via a mobile device, have become available during the past 12 months.