In an exciting piece of news on the Wall Street, Reports have emerged that Apple Inc (NASDAQ AAPL) may be joining hands with VISA. Cupertino Based Apple may soon team up with Visa for a simplified mobile payments system.

A new report indicates Apple Inc (NASDAQ AAPL) may partner with Visa Inc (NYSE V) for a mobile payments system in the near future. Visa recently made some new changes to improve financial security and allow tech companies to expand their mobile payment offerings.

Apple could really capitalize on these new changes and a partnership between the companies may well be on the horizon. Given the payments, handsets, technology, and internet landscape, an Apple/Visa partnership would make a lot of sense. Reports predict a partnership may happen as early as this upcoming fall.

Apple Inc (NASDAQ AAPL): VISA Partnership

Apple already has a significant consumer base with many of the consumers on the affluent side. The company already has the Passbook app which can be used to store mobile coupons, tickets, and more. The iOS maker could collect the credit card info stored on iTunes with Passbook to team up with Visa for a scalable payments platform.

Financial giant Visa just introduce Visa Checkout, a payment system which can be used for online or mobile shopping. The system was designed to simplify the shopping experience. Right now, this new payment system is available with a limited number of stores including Teleflora, Rakuten, Neiman Marcus, Petco, TicketMaster, Cymax, LiveNation, KarmaLoop, Wine Enthusiast Catalog, Beyond The Rack, among others. More stores will be added in time.

Apple Inc financial news (NASDAQ AAPL)

While this is a positive bit of news for Apple, this rumored partnership may not be a big moneymaker for Apple (NASDAQ AAPL). Although it is likely to pave a pathway for Apple to become a big player in the mobile payment industry, it still highly unlikely Apple will see a significant increase in profits.

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