Apple patent application details Apple’s e-Wallet app: ‘Transaction’

invisibleSHIELD case for iPad“On April 16, 2010 a savvy investor posted a great report on The Motley Fool investor site in which he stated that ‘Mobile purchases [and] p2p payments using phones – is a utopia that many telcos, banks, and scheme operations have been looking at for years,'” Jack Purcher reports for Patently Apple.

“On May fourth, the news broke that Visa and DeviceFidelity have been working with Apple on turning your iPhone into a credit card that could be used in restaurants and other retail establishments,” Purcher reports. “Market trials actually begin this summer.”

Purcher reports, “At the heart of all this news, of course, is Near Field Communications (NFC) technology. Patently Apple has reported on several new NFC related Apple patents targeting concert tickets, travel and others in recent weeks and today we’re finally beginning to roll out a new series of Apple patents relating to financial transactions. In fact, that’s the generic branding associated with a new Apple Application shown on iPhone patent figures: Transaction.”

Full articles:
• Part One
• Part Two

15 Comments

  1. oh good god, I wanted to read those two links but I was overloaded scrolling through them. Looks interesting as hell.

    Is Apple coming out with a paypal alternative?

  2. Hmmm… A feature that wireless users in Europe and Japan have been using for how long now? …and why does Apple have to be the one to advance communications functionality in the U.S.?

  3. Boy, don’t lose your iPhone! This stuff is pretty cool. My wallet would be a lot thinner if I didn’t have to carry all my credit and ATM cards. The system is pretty well thought out — split bills at restaurants are even accounted for. Nice.

  4. The e-Wallet will be a killer app for the iPhone. Apple will be the driving force behind this trend in North America. I’ll just make sure to set it to only have a limit of $250 or $500 so that it’s limited in what I could lose. You could limit it to $100 for the kids.

  5. It’ll take another 5-6 years to get this right. They have to work out how to get our licenses in there in a legal way so that police etc will accept an electronic ID. They have to get that camera working to scan business cards etc. This is a good sign that the e-wallet is close at hand. Probably by WWDC 2011 or 2012.

  6. Add this news to the patent that Apple applied for in which the iPhone will know you by your heartbeat. Somebody steaks your iPhone and it is rendered useless.

  7. I checked out the patents at the patent office and they’re never ending. Good job in boiling down 200-300 pages into a report. The graphics let me see why it’s taking so long to come to market. There’s a lot of forms that Apple has to logically create. That’s why msft didn’t want to do it. They’d screw it up for sure. They’ll just copy Apple again, hehe.

  8. Apple has a leading base of savvy users. The banks must be drooling and cheering Apple on …… if not paying them to get pre-listed on iPhones. Visa and all of them must be lobbying Apple pretty hard. If not, they will after reading this.

  9. I’m tired of europeans coming here to whine that they were first. Stuff it. Your Nokia phones sucked big time and no one got touch right until Apple. They’ll get itravel, iconcerts and ieverything right where we’ll actually use it. Let me repeat, Nokia sucks along with euros linux!

  10. this is the fifth or sixth report covering payments like for rides, museums, concerts, holidays, movies and so forth. So this is the mother load. I’m sure a lot of Apple’s competitors choked on their morning coffees reading about this latest Apple move.

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