A report from Bloomberg suggests Apple will integrate Near Field Communication technology into the iPhone 5 for AT&T and the iPad 2. The technology would let you make purchases wirelessly by waving your iOS device over an NFC-enabled register. The payment-processing system would tie into your iTunes account, which stores your personal and credit card information.
Earlier rumors pointed to NFC-enabled iPhones that would function as an electronic wallet or a security passkey. This previous rumor also hinted that Apple's lineup of Mac computers would incorporate NFC technology in a two-way system that would let your iPhone communicate with your Mac.
NFC technology is expected to grow in the upcoming years here in the US. Recently, Samsung and Google introduced the Nexus S, the first NFC-enabled handset powered by Android. Google is also piloting a Hotpot program in Portland, Oregon that lets businesses place an NFC-enabled display in their windows. This specialized signage will send store and promotional information to NFC-capable handsets.
Though Apple has not detailed its plans for near field communication, a recent patent application suggests Apple is exploring the idea of an electronic ticketing system using NFC.