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Apple already has a huge advantage over Google in wireless payments

05
Sep
2014

One of the never-before-seen iPhone features that the iPhone 6 will be able to deliver is NFC-based wireless payments. As many reports have detailed, Apple has already inked deals with major card providers including American Express, MasterCard and Visa. But that’s not the only kind of deals Apple made ahead of its wireless payments attack, as Bank Innovation reveals that the iPhone maker has already reached deals with five major financial institutions including American Express, JP Morgan Chase, Citigroup, Capital One and Bank of America to lower card transaction fees for the upcoming iPhone 6 feature. According to the report, Apple managed to convince these banks to treat iPhone 6 wireless payments as “card present” transactions (just like when a customer actually

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