facebook
twitter
rss
account
search
search
 

Apple patent suggests mobile payment plan

March 7, 2012 at 5:11 PM   |   Comments

WASHINGTON, March 7 (UPI) -- The U.S. Patent and Trademark Office has approved a patent application by Apple suggesting the company plans to launch a mobile payment service, analysts said.

The patent's description said, "the financial transaction rules may be based upon transaction amounts, aggregate spending amounts over a period, merchant categories, specific merchants, geographic locations, or the like," ZDNet UK reported Wednesday.

Pictures in the patent application show an iPhone displaying an application called E-Wallet, although many analysts said any final Apple mobile payment service is more likely to start with the standard "i," likely iWallet.

"Apple's patent reviews credit card transaction rules and shows us that the credit card companies will be sending statements directly to your iTunes account," Apple-watching Web site Patently Apple reported.

"The iWallet project just became a little more real today."

There have been a number of rumors in the last year suggesting Apple was considering launching a mobile payments system using near-field communication technology.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Most Popular
1
Proposed Texas textbooks teach climate change skepticism Proposed Texas textbooks teach climate change skepticism
2
Humpback whale rescued off Maine coast Humpback whale rescued off Maine coast
3
Brazil to build giant observation tower above Amazon Brazil to build giant observation tower above Amazon
4
The NSA will now map out the entire Internet The NSA will now map out the entire Internet
5
Dogs are the favorite food of leopards in rural India Dogs are the favorite food of leopards in rural India
Trending News
Video
x
Feedback