Visa, MasterCard To Support Apple’s Mobile Payment System As Well [Rumor]

Assuming that Apple does announce their mobile wallet system on the 9th of September, which credit cards will be supported? Well according to our previous report, American Express is said to be on board, but is that it? Well if you don’t use American Express you can rest assured knowing that according to another report from Bloomberg claims that MasterCard and Visa will be part of the mix as well.

Rumors about Apple working on a mobile payment system of their own isn’t new. In fact it has been making its rounds for quite a while now, although those rumors seem to have intensified lately with the upcoming announcement for the iPhone 6. One of the purported iPhone 6 features is NFC, which in turns will help to facilitate these payments.

It also seems like a good time for Apple to announce such a system, thanks to the changes they introduced in the iPhone 5s that are expected to be carried over into the iPhone 6. For starters the rumored M8 co-processor is expected to house a secure enclave where credit card details can be stored.

Touch ID, which was introduced in the iPhone 5s, can also be used to help verify the user of the iPhone in the event that the device is lost/stolen and someone else is trying to use the device to make payments. However we suppose the question is how many retailers will adopt Apple’s new mobile payment system, but hopefully we’ll learn more on the 9th of September so check back with us then for the details!

Tyler Lee
Categories: Apple, Rumors