• Patent Turns Up To Reveal Apple's e-Wallet Ambitions

    Last week, my MMI colleague, Paul, delved into the emerging technologies that will soon allow individuals to use their iPhones to complete financial transactions. Naturally, Near Field Communications (NFC) technology would be utilized to facilitate a convenient and secure payment process.

    Today, in a presentation dubbed "Transaction: The financial utopia of tomorrow," our friends at Patently Apple are showing just how ambitious Apple is aiming to be with the new transaction technologies that stand to once again revolutionize how we use, experience, and enjoy our smartphones.

    The patent on display clearly illustrates the envisioning of a time when cash or other forms of currency are practically rendered obsolete, and all transactions are completed electronically. The patent outlines how the iPhone may "integrate several functionalities" to make peer-to-peer transactions more seamless than ever thought possible. The patent illustrates how various payment and crediting accounts can be used both for receiving and sending payment info.

    As many Apple fans will likely observe, the publicizing of this patent in particular is unique in that we're already seeing in practice the technologies outlined in this piece. And while some criticize the showing off of patents because "they never actually materialize," this is likely one such example where Apple is moving aggressively to make the above technologies as commonplace as the iPhone itself.

    Image via Patently Apple
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