iPhone 6 rumors: Apple teaming with American Express, Visa for mobile payment system

After the leaks showing an NFC chip integrated into the device’s logic board surfaced, Re/code reports that Apple has signed an agreement with American Express for a mobile payment system.

In addition, Bloomberg revealed that Visa and MasterCard have been in talks with Apple to reach a deal that now seals the fate of NFC features in the iPhone 6.

The new payment system is supposed to allow iPhone owners to use their smartphones instead of their credit card or cash to make payments in stores.

As iTunes has millions of accounts, most of which are linked to credit cards in hundreds of different banks, a mobile payment system seems to be the next step for Cupertino.

Security would also be enhanced by the presence of the Touch ID, the fingerprint reader introduced with the iPhone 5S.

On September 9 all the speculation will come to an end with the release of the future iPhone.