Report: Apple Has Secured Deals With Visa, MasterCard and AmEx for iPhone Mobile Wallet

Apple Apple is widely expected to reveal a mobile payments system alongside the iPhone 6 at its press event on September 9th. The system — supposedly designed to take on Google Wallet, Isis, Paypal, and others — would allow you to use your phone to pay for items at the cash register, and it appears Apple's gained some strong allies in its quest. Bloomberg reports that Visa, MasterCard, and American Express have agreed to work together with Apple on the rumored payments system. Recode and The Information previously reported that American Express and Visa, respectively, had reached agreements with Apple. The reports, which cite sources familiar with the matter, do not go into the nature of the agreements. Visa, MasterCard, and American Express would be a major coup for Apple's mobile payment efforts, but the company will have to make partnerships numerous other retailers and banks if it it hopes to make a truly comprehensive and compelling alternative to traditional credit cards.

Read the full story at The Verge, and the original report at Bloomberg.