Stock Update: Apple Inc (NASDAQ AAPL) To Launch iWallet App with iPhone 6

Apple Inc (NASDAQ APPL) is set to release the much awaited iPhone 6 in the coming months. Reportedly, Apple Inc (NASDAQ AAPL) may not have shown off all of its software potential at this year’s WWDC. The iPhone 6 is apparently going to be replete with iWallet, a payment app that might change the way Apple does business forever.

The company’s developer conference is usually a time to show the heart of its software efforts, but sometimes a little something is saved for later in the year. According to some reports, Apple Inc (NASDAQ AAPL) is looking to launch a competitor to payments processing applications from companies like Google Inc (NASDAQ GOOG) and eBay Inc (NASDAQ EBAY) as early as this Fall.

As we found out when Apple released its most recent earnings report, the iPhone 6 is set to arrive before September 27, meaning it could be the first device with Apple payment capabilities.

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Rumors of an Apple Inc (NASDAQ AAPL) payment service have long been circulating, and there’s no certainty that the company is going to go for such a business right now. With a look at how the other firms in the area are failing, and the hardware capabilities present in the presumed iPhone 6, now might be the perfect time to get into payments. iWallet is certainly something analysts want to see.

According to the report, which sourced “several people briefed on the talks” Apple Inc (NASDAQ AAPL) is currently in talks with industry insiders in an effort to set up its own Google Wallet competitor. The report said that the company was looking to get its iWallet service into the hands of consumers sooner rather than later, with date of no later than this Fall forming part of the center of the report.

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Apple Inc financial news (NASDAQ AAPL)

Apple Inc (NASDAQ AAPL) is already one of the biggest companies in e-commerce, and the company’s burgeoning sales in the app store, along with its ability to sell its own phones in the millions through its website, show that it is adept at handling customer money and credit card details. That means that the firm already has a market out there that trusts it with its cash. The launch of iWallet would make the stock even more appealing for any investor.

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