Apple To Launch E-Wallet Service by 2014 [rumor]


Gene Munster, the famous analyst with Piper Jaffray, has a big hunch that Apple will release an e-wallet in the coming years. Some have suggested the e-wallet would feature fingerprint scanning, but Munster says we’re a long ways from that and probably won’t see the service until 2014.

Getting the service off the ground wouldn’t be hard for Apple considering the company already has many of our credit cards on file thanks to its iTunes store, App Store, iBookstore and various in-app purchases. Apple also has stellar relationships with major U.S. retailers like Walmart and Target, so convincing them to get on board with the service shoudn’t be difficult.

The only issue then is a security one. Apple would need to use something other than near-field communications, or NFC, says Munster, which it has avoided adding to its iPhone models. No word yet on what that technology would be, but we’re guessing Apple’s thought of it.