Apple’s Mobile Wallet May Not Pay Off for a While

The rumors of Apple‘s plans to embrace mobile payments are nearly as old as the iPhone itself. Each year since at least 2010, there have been reports that Apple is developing near field communication (NFC) technology to enable users to pay with their smartphones. Each year, Apple executives get on stage and reveal a new iPhone without an NFC payment platform

The latest round of rumors started last week with a report in Wired that the next iPhone, expected to be unveiled on Sept. 9, will include an NFC payment platform. That report was then followed up with others in Re/code and Bloomberg that Apple had partnered with Visa, MasterCard and American Express on its mobile payments option. On Tuesday, a banking technology publication reported that Apple was in talks with Nordstrom to be an early retail partner for the platform. Read more…

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