August 31, 2014
Apple Partnering With American Express On New iPhone Payments System
According to Jason Del Ray at Re/code, Apple has reached an agreement with American Express to work together on its new iPhone payments system.
According to sources familiar with the talks, Apple should make the announcement at its September 9 product event.
This is the second major credit card company to work with Apple for an iPhone payments system. At the end of July, Amir Efrati at The Information reported, "Visa had agreed to work with Apple’s payments product."
Neither report has tons of details on how Apple's mobile payment system will work. It seems like Apple will keep credit card information securely on the phone, and when it's time to pay for something at a store, the user will just place their phone against a payment device.
[via Business Insider]
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