New reports claim that a new virtual wallet is almost certainly going to be one of the iPhones biggest new features. According to Re/Code, Apple has reached an agreement with American Express to work together on its new iPhone payments system and the new feature will enable owners to make digital payments in physical stores without a credit or debit card. Apple CEO Tim Cook has made no secret of his desire to do something innovative or creative with the 500 million+ iTunes accounts with connected credit cards at his companys disposal, and the inclusion of a fingerprint sensor on the iPhone 5S — the companys current flagship smartphone, launched 12 months ago — was seen by many as the first step towards Apple moving into mobile payments, allowing consumers to use their handsets in lieu of a physical wallet, cash or credit card.