Visa, Mastercard may join American Express on your iPhone Wallet this fall

iPhone 5s Touch ID
iPhone 5s Touch ID (Image credit: Apple)

Come this fall when Apple has its September 9th event, a digital wallet may be coming to the iPhone to help grow the mobile payment business. We've heard that American Express may be a major partner to the initiative, and now we are also hearing that Visa and Mastercard may also be joining forces with Apple in a rumored NFC-based payments announcement.

Like Google Wallet and ISIS for Android phones, the Apple-built iPhone wallet may use NFC to communicate with payment terminals at retail stores and the TouchID fingerprint sensor to authenticate user and make the experience safe.

Apple has not commented on the rumors, though if Bloomberg's sources are accurate we may see a lot more than just iPhone and iPad devices being announced soon.

Source: Bloomberg

Chuong H Nguyen