New iPhone 5 & iPad 2: NFC mobile payments rumor

Rumors are still abounding about the items that everybody is talking about, the next-generation iPhone and iPad, the iPhone 5 and iPad 2. We’ve been bringing you all the news (and speculation) and recent stories include estimated release dates for both, based on production and whether in fact the iPhone 5 may be released with a different name.

Now we have an interesting snippet from Mark Gurman on 9to5mac, sourced from Bloomberg, who reports the possibility of NFC coming to the next iPhone and iPad. For those who don’t know, NFC stands for near-field communication, which would give iPhone 5 or iPad 2 users the capability of using their devices for payments at stores or restaurants, instead of the usual credit or debit cards.

The claim comes from Richard Doherty who is a director of Envisioneering Group, via “engineers who are working on hardware for the Apple project.” Apple plans a new mobile payment service to go alongside the NFC-capable devices that would save the company fees for credit card processing by taking the money direct from customers bank accounts instead. This overhaul for iTunes with the payment changes could also see the use of loyalty credits and points.

Vlad Savov over on Engadget adds to this story and reports that contactless payments using NFC are usual in Japan and are now steadily increasing elsewhere so this would seem like a good move for Apple to get ahead of the market. What are your thoughts on the iPhone 5 and iPad 2 being NFC-compatible? Is this something you think is a good move? Let us know with your comments please.

  • Joe Katter

    I told a good friend of mine about 8 years ago that the mobile phone would one day replace our wallets and be, not only our phone, but our photo album, our address book and even our money would exchange hands electronically through the use of our phones. He laughed at the idea. Looks like I will have the last laugh…