Apple's Next iPhone May Lack NFC

Apple Inc. may not be building a contactless payment capability into its next iPhone.

According to a report from The Independent, a London paper, several sources at U.K. wireless carriers have said the fifth iPhone design would not include a near field communication chip for payments.

The reason, according to one source, is "the lack of a clear standard across the industry" for mobile payments. The paper did not name the source.

Apple typically unveils a new iPhone design each summer.

Samsung Electronics Ltd. makes an NFC-capable smartphone called the Nexus S that runs Google Inc.'s Android software. However, the chip inside this phone is read-only, and payments typically require two-way communication.

This story has been reprinted with permission from American Banker.