iPhone 5 from Jacksonville Town Center will offer “Wave and Pay!”

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The Apple Store In Jacksonville Town Center will EVENTUALLY will offer iPhone 5 which Apple will install “wave and pay” technology for the next version of its iPhone. This will boost mobile commerce and potentially giving Apple a big piece of the multibillion-dollar transaction industry.

The Apple iPhone 5, due out this year at Jacksonville Town Center, is likely to incorporate technology called Near-Field Communication, which incorporates financial account information and ties that data to specific devices, according to Asian suppliers and others who have been in talks with Apple.

“I do believe Apple’s iPhone 5 will have NFC embedded,” said Bill Gajda, Visa’s head of mobile innovation, one of those in ­discussions with Apple.

Apple declined to comment.

Large retailers who have stores in Jacksonville Town Center who do not yet have NFC scanners would have to spend heavily to switch to new terminals, Mr Doherty warned, though it would be easy for smaller outlets that rent such terminals to start leasing NFC-capable machines instead.

US wave and pay trials have, thus far, been small. Visa has been working with some card­issuing banks, for example, who mail small cards with financial credentials that can be inserted into the iPhone and other smartphones.