Patently Apple reports that Apple has been granted a patent for its iWallet patent, and that the application includes many never before seen details about how Apple envisions its iOS toting users handling financial transactions from their mobile devices.
Apple’s patent reviews credit card transaction rules and shows us that the credit card companies will be sending statements directly to your iTunes account. The iWallet project just became a little more real today, and for many, it can’t come soon enough.
Apple has received a major Granted Patent that generally relates to establishing financial transaction rules for controlling a subsidiary financial account and, more particularly, to various systems, methods, and electronic devices configured to provide for the establishment of such rules.
With an NFC enabled iPhone arguably inevitable, an iWallet program may be Apple’s next big thing.
Check out the full story over here.