Apple's iPhone 5 is superior to its predecessors, but perhaps the biggest news is its lack of near field communications (NFC). Apple remains the only phone manufacturer not to incorporate the chip, which is considered the technology that will power mobile payments. Speculation around how Apple will introduce mobile payments to its customers is widespread. Passbook, a new app in the latest version of the iPhone operating system, can store loyalty cards and boarding passes. Passbook could be the precursor to a mobile wallet if payment functionality is added. The question is what technology Apple will use to implement its mobile payment system. Will it be NFC, or some other short range technology such as low energy Bluetooth, which is already available on its devices?
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