Apple, along with the iPhone 6, might be launching a mobile wallet, say reports.
The company is currently in discussions with many banking institutions and credit card associations.
According to reports, the supposed system would store the user's sensitive data like financial credentials on their smartphone's secure element.
However, there were no details on how Apple intends to manage information transfer.
The company has apparently informed partners about its utilization of near-field communication chips.
Apple might also bring its focus on Bluetooth and Wi-fi, reports the Verge.