Apple’s Mobile Payment Patent Approved

March 8th, 2012 at 5:08 am

The Patent and Trademark Office in the US has approved a patent application from Apple that suggests the company would be launching a mobile payment service.

The patent comes with a description that reads: “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.” The patent reviews credit card transaction rules and also notifies users when credit card companies send statements on their iTunes account.

The application comes with a series of illustrations showing an iPhone displaying an app called “E-Wallet,” but it may likely be renamed into something that starts with “i,” like iWallet or iPay.

The patent application confirms long-circulating rumors about Apple’s plans to launch a mobile payment system using near-field technology.

Source: UPI


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