APPLE’S NEW IWALLET PATENT HINTS AT NEW KILLER APP

Twitter
LinkedIn
Facebook

iWallet may be to iPhone 5 what Siri was to iPhone 4S.

As the world is focused on the new iPad from Apple (AAPL) and most of the speculation centers around iTV, the next big thing for Apple may be iWallet.

Apple already has millions of credit card numbers on file. Apple may introduce the next big killer app iWallet along with iPhone 5.

On March 6, 2012, without much fanfare the United States Patent and Trademark Office awarded Apple Patent Number 8,127,982.

The patent is disguised under the title ‘Parental controls’ and perhaps this is the reason it has not received much attention. A careful reading shows that iWallet is more of a reality than generally thought. Here is the abstract of the patent:

Various techniques are provided for establishing financial transaction rules to control one or more subsidiary financial accounts. In one embodiment, a financial account management application stored on a processor-based device may provide an interface for defining financial transaction rules to be applied to a subsidiary account. The financial transaction rules may be based upon transaction amounts, aggregate spending amounts over a period, merchant categories, specific merchants, geographic locations, or the like. The device may update the financial transaction rules associated with a subsidiary account by communicating the rules to an appropriate financial server. Accordingly, transactions made using the subsidiary account by a subsidiary account holder may be evaluated against the defined rules, wherein an appropriate control action is carried out if a financial transaction rule is violated.

Apple expands on the patent as follows:

The financial transaction rules to…Read more at Forbes

See also  APPLE, ALPHABET, AND META UNDER E.U. PROBE; INTEL AND AMD BANNED; FED’S BOSTIC SAYS ONE RATE CUT

 

Subscribe to 'Generate Wealth'

Free Forever

More To Explore

30 Day Free Trial

Cancel within 30 days and you owe nothing

When you take a FREE 30 day trial, you get access to powerful techniques used by billionaires and hedge funds to grow richer. You can continue to use these powerful techniques to grow richer even if you cancel your subscription. You come out ahead by subscribing no matter how you look at it.

A fortune is to be made from AI stocks.
Get the list of 18 AI stocks to grab your share of the profits — no cost to you.

A fortune is to be made from AI stocks.

Get the list of 18 AI stocks to grab your share of the profits.

AI is a $1 Trillion Market

Making A Fortune
In Artificial Intelligence

Golden Age of Artificial Intelligence