Apple wins major U.S. ‘iWallet’ patent; the one that may one day ‘rule the world’

“In May of 2010 we were surprised to see Apple’s first iWallet patent officially surface. In that year we witnessed a steady stream of Near Field Communication based patents that kick started the iWallet trend,” Jack Purcher reports for Patently Apple.

“Ever since that time we’ve archived these patents under the category of ‘iWallet-NFC Related,'” Purcher reports. “Apple has received a major Granted Patent that generally relates to establishing financial transaction rules for controlling a subsidiary financial account and, more particularly, to various systems, methods, and electronic devices configured to provide for the establishment of such rules… 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.”

Purcher reports, “The iWallet project just became a little more real today, and for many, it can’t come soon enough. Who knows, perhaps one day Apple’s iWallet will rule the world: the financial world that is.”

Read more in the full article, including Apple patent application illustrations and diagrams, here.


  1. Ruling the financial world IS ruling the world.

    Plus, just thing about all those iPhone and iPad cameras and microphones that Apple could remotely activate to see and hear what everyone in the world is doing at any given time . . . SPOOOOOKY!

    Conspiracy theorists need not reply; we know you’re here already!

  2. well, technology is the only democratic people’s weapon for freedom since germany’s printing press over 550+ years ago, starting with the internet in 1991…

    Apple is the Silicon Pirate which gave us people the most, for work, play, livelihood, freedom…they have never lost their mojo & unlike other corruptible corporations have no conspired goals to screw its fans’ liberties…

    so, if anyone does iWallet, it should be entrusted at Apple. for safety, robustness, virus-free, smooth operation, intuitiveness, classiness, aesthetics etc, etc, etc. just because with AAPL, client is King, is i.

    j’aime ma pomme. et toi?!
    le reste fait vomir.

    voyons demain!

  3. Neat idea for controlling what your kids or partner(!) uses their virtual debit, credit or prepaid card for, but relies on a lot of back office system changes in the card-issuing bank (Chase in these diagrams) – these guys are just not set up to offer this level of control and their old, legacy systems are difficult, risky and expensive to change. Why would Apple want to play ball with the old dinosaurs Visa, MasterCard etc. rather than develop their own PayPal killer by having accounts in iTunes for merchants (from where they get paid out) as well as consumers?

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