“On January 30, 2014, the US Patent & Trademark Office published a major patent application from Apple that reveals a new financial Systems Integration System,” Jack Purcher reports for Patently Apple. “Apple’s invention relates to financing integration with an e-commerce marketplace, and more specifically, the present technology relates to a Financing Systems Integration system that allows customers to shop-and-checkout using a Loan ID.”

“Apple currently has a treasure trove of inventions relating to a future iWallet system but this is a new beast all together,” Purcher reports. “The patent filing illustrates that Apple is investigating the whole financial matrix and not just the electronic wallet side of the equation. ”

“Apple’s patent dives into creating a system to handle all sorts of loans, from student loans to Business-to-Business loans and everything in between,” Purcher reports. “In one part, Apple’s financial system almost hints of one day bypassing the credit card system entirely.”

Read more in the full article here.

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