Apple strikes deals with American Express and MasterCard for new iPhone payments system

By , Aug 31, 2014

amex iphone

Recode is reporting this morning that Apple has struck a deal with American Express, to work together on its new iPhone payments system. Citing sources familiar with the talks, the site says AmEx is just one of the many credit card firms the company has been talking to for the project.

Apple’s new payments system is expected to allow iPhone 6 owners to pay for things at brick-and-morter stores using the handset. It’s believed that the system will utilize NFC technology, and Recode’s sources say that Apple’s Touch ID tech will be involved in the process at some point.

Today’s report comes amidst a flurry of others regarding the next-generation iPhone, NFC and mobile payments. It was rumored back in May that Apple had reached a deal with China UnionPay for such a service, and Visa in July, and we’ve heard on a few occasions Apple was talking to retailers.

Then there’s the evidence that the so-called iPhone 6 will feature NFC, which has begun to pile up in recent days. We’ve seen a leaked logic board for the device, which has a slot for an NFC chip, and both Wired and Financial Times reported last week that Apple would finally be utilizing the tech.

All of this is expected to be announced at the September 9th media event Apple sent out invitations to last Thursday. For the first time in several years, the company has picked Cupertino’s Flint Center for the Performing Arts, suggesting that it plans to make some significant announcements.

Update: Bloomberg chimed in on the conversation this afternoon, saying it has confirmed with its own independent sources that Apple will be unveiling a new NFC-based payment system next month, and both Visa and American Express have signed on as partners. Additionally, it claims that MasterCard is also in the mix, meaning Apple has the support of 3 out of the major 4 credit card companies (no word on Discover yet).

[Recode, Bloomberg]

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  • Star Lord

    Please don’t be US exclusive.

    • http://flavors.me/mile MILE

      Since so many vendors here in Europe do not accept AmEx anyway it might be US exclusive by nature…!?

      With so many potential partners why on earth did they choose AmEx as a partner…?! :(

      • Mark Wheeler

        taken from the article…

        AmEx is just one of the many credit card firms the company has been talking to for the project.

        if the others don’t want to get involved thats gonna be their issue lol.

      • Manuel Molina

        Same in America from my experience, bruh. My Amex card is useless unless it’s being used through amazon or walmart

  • CASEACE79

    If ya read the article it says Apple was supposedly in similar talks with Visa back in July. And for all my friends across the pond I hope this isn’t exclusive to us in the US.

  • Wesh

    I’m not even gonna spend one drop of feels on this news, cause I’m in Belgiumland. Our corner of the world is always ignored or left behind till it’s old news.
    There isnt even a Dutch speaking Siri for Quark’s sake.

    • Jeffrey Feuerstein

      Yet.

      • Justin Bates

        Siri is a few weeks away from being 4 years old. His point is clearly validated

      • Jeffrey Feuerstein

        Didn’t say his point wasn’t valid, just said that it will come in Dutch finally. BTW, Siri is a few weeks away from being 3 years old, not 4.

      • Wesh

        ok, that’s good news after all. thx ;) The sooner the better!
        Not that I’d use it all the time, but if I can succesfully use it when I’m in a pinch, that’d be plenty. (like replying to a message when your biking/driving or handsfree calling. Just basic stuff is nice.)

        If iPhone 6/iOS8 turn out to be quite revolutionary (compared to previous iPhones, not other smartphones perse) I might stick with iPhone afterall. Was considering some alternatives.

      • Jeffrey Feuerstein

        Yeah for sure, I just hope it comes soon, since they hired a Dutch guy to translate Siri over a year ago… Exactly, I love using Siri while driving or biking…

        Well almost everything you could find out about the iPhone 6 and iOS 8 has been rumored already so don’t expect a lot more than what’s already rumored. I do advice you to stick with iPhone though;).

      • Wesh

        ah ok. Well get your act together, Dutch guy! Hup met die beentjes!

        Well, we’ll see about the new iPhone. I do try to only faintly look at the rumors and not give them much attention; I enjoy being somewhat surprised by the novelties they reveal at the event.

      • Jeffrey Feuerstein

        Hahah jij ook man!;)

        I do too love surprises but I can’t look away from them;).

  • Manuel Molina

    Great! No one accepts Amex in New York around me. Maybe Visa would be better.

    • Rowan09

      In the article it stats 3 of major 4 has signed on with Apple (Amex, Visa & MasterCard).

      • Manuel Molina

        Don’t you mean states? And I said Visa would be better, thus meaning it will work better for me to use that. This means I read the article. :)

  • Brian Voll

    Assuming NFC in iPhone is real. Would it work on any of those machines I can use the nfc in my credit card with? I have no idea how it all works.

    • Rook HD

      In order to use the NFC chip in the phone, the retailers have to install an NFC base. Instead of swiping your card, you tap your phone on that base. So don’t expect you can use your phone to pay right away because you have to wait for retailers to adapt this new stuff.

      • Yunsar

        Retailers already have the ‘NFC base’. They are used for VISA PayWave or MasterCard PayPass.