Apple granted key iWallet patent for mobile payment service

“On June 11, 2013, the US Patent and Trademark Office officially published a series of 37 newly granted patents for Apple Inc.,” Jack Purcher reports for Patently Apple.

“In this particular report we cover a key iWallet patent that relates to setting financial rules for controlling a subsidiary account such as one for a child, employee or spouse that an account holder will be able to control via a new iTunes ‘Mobile Pay’ Service,” Purcher reports. “[The invention relates to] 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.”

Purcher reports, “iWallet accounts will be able to be controlled by users in a future segment of their iTunes app currently dubbed ‘Mobile Pay’ under future ‘Services.’ Apple’s Tim Cook revealed during his World Wide Developer Conference (WWDC) keynote yesterday that Apple now has over 575 million user store accounts with credit card information on hand as of June 11, 2013.”

Read more, and see Apple’s patent application illustrations, in the full article here.

MacDailyNews Take: Autumn 2013?

Related articles:
Forget iTV or iWatch: Apple’s next big thing is iWallet – May 10, 2013
Apple’s massive ‘iWallet’ advantage: Over half-billion active iTunes accounts linked to credit cards – April 5, 2013
Apple’s next-gen ‘iPhone 5S’ to feature fingerprint sensor, NFC-based ‘iWallet,’ sources say – March 11, 2013
Apple’s ‘iWallet’ coming this year? – February 20, 2013

25 Comments

  1. I’m the biggest Apple fan, a happy user, loyal customer and a thrilled long-term AAPL shareholder. BUT after seeing Apple’s name on an NSA PowerPoint listed as a contributor to the PRISM program — no way in hell I’m signing up for iWallet.

    I was surprised they even mentioned the iCloud Keychain yesterday. I literally could not believe I was seeing that.

    1. Well I’d be willing to bet that Google gave the NSA access quickly and willingly in exchange for some under the table deal…while Apple probably was served a court order by the secret court FISC and fought against it for years. I think I saw that Apple didn’t join prism till many years after Google, Mocrosoft, etc.

      Anyway the data collection is so vast now you’d have to live like an Amish not to have your info collected. I’ve always suspected something like Prism was going on so not too surprised to see it finally outed.

    2. The sooner we have all financial transactions recorded in detail, the quicker the country will get out of debt because they will collect the taxes owed on all ‘under the table’ deals. Pay your taxes . . . it lowers taxes for all of us when we all pay every dime owed.

        1. Is that your best response? Life for you is about getting every thing you can for free and not paying for the government services you claim to cherish like the military. Free loaders like you are the downfall of the USA and are beneath contempt. I pity you in your miserable life without hope or love for anyone but yourself. Did that cover it?

          1. I earn every fiat dollar I get, I am profoundly against every undeclared war, but most of all I loathe and despise foreign, dumb motherfuckers like you who have the audacity to prescribe what is best for my country.

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