The iPhone’s mobile payment app is called Transaction
This summer Apple will be testing the iPhone mobile payment app in various markets. Visa and DeviceFidelity are reported to have been working with Apple on making the iPhone into a credit card that could be used in bars, restaurants, and retail stores.
Read about other mobile bill payment solutions here
Patentlyapple reports that Transaction patent is directed to various techniques for conducting peer-to-peer financial exchanges using a handheld, portable electronic device – which for the sake of simplicity is represented throughout several transaction-based patents – as the iPhone. Read more here.
