As the unveiling of iPhone 6 nears, there have been claims Apple is partnering with Visa, American Express and MasterCard to bring near-field communication (NFC) as the new mobile payment system for the new iPhone.

NFC will allow iPhone 6 users to exchange data with point-of-sale systems and make payments automatically via a payment service of their choice.

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The new mobile payment system for the iPhone 6 is expected to be protected by fingerprint scanners used in the iPhone 5.

NFC is already established in PayPal and Google but Apple's partnership with the world's giant financial institutions will give it a huge advantage.

Apple has 800 millions iTunes users already connected to major credit and debit cards. This is a good start for Apple's launching a virtual wallet.

Apple is likely to generate an estimated US$300 million each year from advertising, said Richard Crone, CEO of Crone Consulting LLC.

The major key success driver of the service will be retailer adoption.

"There's huge potential with Apple having a market-defining opportunity. However, there's lots of moving parts in payment that make the deals they did with artists and Hollywood for iTunes look like child's play," Crone said.

Apple is expected to integrate the new mobile payment system in the next iPhone at a press event on September 9 in Cupertino.

Reports said NFC and the virtual wallet will be the two most important and defining features of the iPhone 6.

TagsNFC, mobile payment, virtual wallet, visa, MasterCard, American Express