At first we hoped the iPhone 5 would have NFC technology, then we were told Apple wasn't considering NFC yet. Now it appears that the next iPhone will in fact have NFC technology for mobile payments.
Multiple reports from sources like The New York Times and China Times reveal that Apple is working hard to implement NFC into the iPhone. Near Field Communication technology would allow consumers to use the iPhone as a mobile payment option, and the technology would most likely tie into the already-existing iTunes payment infrastructure.