Report: Apple partnering with American Express for iPhone mobile payments

NFC-iPhone

A new report from Re/code states that Apple is partnering with American Express for its iPhone mobile payments system. The Cupertino company is expected to unveil the new payment system alongside the iPhone 6 on September 9 and might be based on NFC technology if recent reports and leaks are to be believed.

Apple has reached an agreement with American Express to work together on its new iPhone payments system, according to sources familiar with the talks. American Express is one of several partners Apple will need to sign up before it can launch its new payments plan, which sources say it plans to announce at its September 9 product event.

The payment system is said to enable iPhone users to use their devices to pay for products and services in place of credit or debit cards in brick and mortar retail stores.

It was previously reported by The Information that Apple was partnering with Visa as part of the new system and American Express is alleged to be the latest partner working on the initiative.

In the lead up to the announcement, Apple is said to be in talks with multiple credit card networks about the new payment product, according to Re/code‘s sources.

Apple is, of course, perfectly positioned to launch such a service with Touch ID and the secure enclave in its iOS devices, Passbook and iBeacons on the software side, and 800 million credit cards registered to iTunes accounts already. Do you think we’ll see an NFC enabled payment system on September 9? Would you use it? Let us know your thoughts below!

Source: Re/code

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