Even it might be not the best times of virtual currencies, Apple has applied a patent on a virtual currency and wallet technology. US Patent and Trademark Organization published the patent application details yesterday. It is said the iMoney will give any iPhone user possibility to pay for goods and services right from their devices without the need of NFC option. NFC (near field communication) is set of standards intended to use with contactless payment systems. It gives an option to pay with mobile payment instead of using credit cards or electronic ticket smartcards and is intended to replace them completely.
The patent has a broad description of "free" services and products that users could have access to. For example, you can get "tokens" for watching ads which you can spend later on mobile carrier costs. Or, like a high-tech virtual coupon. Sponsors could assign tokens for any specific purpose or use they wish, and users could only redeem them for that particular service or product. Pretty smart!
According to the patent credits can be transferred over the web or even by text messages and later then be used virtually or transmitted to retail store's point-to sale system for actual goods.
It's been a long since Apple avoid NFC by any means. Unlike Android platform which has a vast support for NFC. In fact, Apple is a bit late to come to field of virtual wallet. The major player hear is PayPal and there are several strong newbie like MasterCard, Visa, Amazon and especially Google. And Google has Android platform in hands and a big desire to fill all possible gaps. Alternatively Apple has a not that popular Passbook which might be a predecessor of fully functional virtual wallet. Can you imagine future HYIPS sending your withdrawals right to your iPhone? That may be a bright future indeed.