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Will the next iPhone replace your wallet? Apple set to take on Google with chip that could let you pay with a wave of your handset

EDDIE WRENN
UK Daily Mail [1]
Aug 28, 2012

The iPhone has already replaced digital cameras, MP3 players and portable games consoles for most owners.

Now it could be about to replace your wallet.

The next iPhone, which is believed to launch in just two weeks time, is expected to come with a built-in chip which can serve as your credit or debit card for small payments.

Eagle-eyed fans looking at leaked images of the internals of the device have spotted what they believe is an NFC chip within the phone.

NFC is seen as the successor to the chip-and-pin, serving as a small contactless card which can be waved against scanners at tills to automate a payment.

Some debit cards already have this feature installed, and certain retailers such as Pret a Manger already use the technology.

Full article here [1]