More Evidence of "e-wallet" Capabilities in iPhone 5

[Paul Daniel Ash]

A couple of new job listings on Apple's website are firming up rumors that Apple will be including so-called "e-wallet" capabilities using Near Field Communications (NFC) technology on upcoming iOS devices. The positions - for a Hardware Test Engineer and a Manager of Global Payment Platforms - indicate that development on both the technical and business aspects is near completion.

As Nick reported on Tuesday, there's growing evidence that Apple is working on a PayPal-like service that would use radio-frequency identifier (RFID) chips built into iOS devices to allow them to act as electronic wallets: you would just wave your iPhone at a reader, and money would be immediately transferred out of your account. Smartphones like Google's Nexus S already support NFC, though the readers are still rare in stores. Apple's apparently been at work on this for some time, though: Mike reported last year about how they had hired an NFC expert to develop this technology.

One of the newly-posted job listings seeks a senior hardware automated test engineer with an advanced degree in electrical engineering who is expected to be as "comfortable doing theoretical work and as working with a soldering iron." This super-tech would have competencies in a number of fields including RF, which indicates that work on the NFC technology is at or near the testing stage, ready for inclusion in this year's iPhone and iPad.

The ad for the Global Payments manager is looking for someone that will "contribute to the analysis and development of new payment types," and it's difficult to imagine what a "new payment type" could be other than NFC (unless Apple is going to be printing its own currency or something). The report earlier this week had suggested Apple was looking to run its new e-wallet system through a version of the iTunes Store, processing payments directly from users' bank accounts rather than going through credit card companies which charge a fee for every transaction.

While Apple is obviously looking at the economic benefits of NFC, the technology has many other applications. For example, Bluetooth devices could be paired much more quickly - in less than a tenth of a second - by using NFC rather than having to configure both devices in Bluetooth. NFC can also be used to replace airline or concert tickets, as identification, or in place of a physical house and car key. Apple's inclusion of NFC in its popular devices is likely to spur accelerated development of NFC, so new applications will doubtless emerge over time.

Source: AppleInsider

[mortopher]

Awesome, we are finally catching up to Japan of five years ago.

[iSteed]

Soon there really will be an app for everything

[javiert30]

Soon there really will be an app for everything

Yep, wait for iToilet...

[SpikeyDan]

Old phones use to have a wallet the N65 and others. The question is how much would it cost other companies to implement the technology? Give it 10 years

[johnny69blaze]

I wouldn't want that on my phone. Can't some hacker develop something where they get close to your phone and charge you up the ***

[StealthBravo]

I think this would be awesome

[ALAN523]

Yep, wait for iToilet...

Last time I checked, that was an app.

[wolverinemarky]

Sounds pretty sweet especially if u can avoid paying the credit card companies


Sent from my iPhone using ModMyi

[Snozberries]

Yep, wait for iToilet...

virtual or physical?? physical already exists. there is TP/Docking station combo out there!!!

iCarta-Atech Flash Technology

[Jcbzr]

Old phones use to have a wallet the N65 and others. The question is how much would it cost other companies to implement the technology? Give it 10 years

iPhone 6 or possibly iPhone 7 will have this technology; the iPhone 5 will most likely not have this.

[steve-z17]

When this comes out I'm just going to take pictures of my Drivers License, SS Card, BYU Student ID card, and a couple other important ones with my phone. This way when I pay with my iPhone and they ask for ID I can multi-task over to pictures and show them. No need for a wallet anymore

[endwaro]

When this comes out I'm just going to take pictures of my Drivers License, SS Card, BYU Student ID card, and a couple other important ones with my phone. This way when I pay with my iPhone and they ask for ID I can multi-task over to pictures and show them. No need for a wallet anymore

Hey thats an awesome idea
I hope i get to go to BYU. But not until 2015 or so.....

[steve-z17]

Hey thats an awesome idea
I hope i get to go to BYU. But not until 2015 or so.....

It's a great school with great programs!

[KartRacer]

This would be really cool so long as a couple things happen.

1. None of the payment process goes through Apple or any company bought by Apple. I have no interest in having them know anything about my purchasing habits. There was something about this on another site, can't remember where, but I don't think that would happen. Either way, I don't want Apple having anything to do with the purchasing or transfer of funds.

2. It has to have the option for a charge account that can be prepaid. If not I doubt people would use it simply because of the risk of stolen info or the phone being lost. No bank is going to tolerate a bunch of people shuffling around accounts simply because they lost their phones.

3. Goes along with #2. If this is in some way tied to a bank account or an iTunes account, everyone has got to have to option to remote wipe a phone if lost. And it'd better be completely free.

If those conditions are met, this would be simply awesome. It would take ages for businesses to implement this nationwide though!

[StealthBravo]

When this comes out I'm just going to take pictures of my Drivers License, SS Card, BYU Student ID card, and a couple other important ones with my phone. This way when I pay with my iPhone and they ask for ID I can multi-task over to pictures and show them. No need for a wallet anymore

haha maybe

[SpikeyDan]

When this comes out I'm just going to take pictures of my Drivers License, SS Card, BYU Student ID card, and a couple other important ones with my phone. This way when I pay with my iPhone and they ask for ID I can multi-task over to pictures and show them. No need for a wallet anymore

Will be great steal your phone transfer the data photo shop your I'd and I'm you. Win. Good thinking though

[steve-z17]

Will be great steal your phone transfer the data photo shop your I'd and I'm you. Win. Good thinking though

Lol, I probably wouldn't actually do it, just a crazy idea. But if my iPhone really was stolen I'd do a remote wipe!

[SpikeyDan]

Lol, I probably wouldn't actually do it, just a crazy idea. But if my iPhone really was stolen I'd do a remote wipe!

Lol I don't think anyone would. One too many beers and a remote wipe won't happen for a few hours. Data could have been copied and altered by then. It's a good concept but I like carrying my cards reminds me I'm a person not an obsessive phone user hehe.

[steve-z17]

Lol I don't think anyone would. One too many beers and a remote wipe won't happen for a few hours. Data could have been copied and altered by then. It's a good concept but I like carrying my cards reminds me I'm a person not an obsessive phone user hehe.

Yeah I'd feel safer with my cards.