“In early March Apple was granted a patent for a never before seen patent regarding Apple’s forthcoming iWallet,” Jack Purcher reports for Patently Apple.

“The patent focused on parental controls for an iWallet and made a connection to a vague iTunes application and/or methodology. Today, another major component of Apple’s iWallet was revealed in yet another granted patent,” Purcher reports. “Today we learn about major security measures that the iWallet will employ and see more of the iTunes financial app that is temporarily being dubbed ‘MobilePay.'”

Purcher reports, “The app takes on the appearance of a convenient tab found in iTunes, just like it is today for your apps, music or photos. Today’s report fills you in on the latest features that Apple is thinking of bringing to the iWallet along with a great number of screenshots of various iWallet functions.”

Much more in the full article here.

[Thanks to MacDailyNews Reader “Dow C.” for the heads up.]