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AAPL, V: Apple, Visa May Team Up to Become Mobile Payments King

Team up may be announced this fall

By William White, InvestorPlace Writer

Apple (AAPL) and Visa (V) may team up to tackle mobile payments.

JApple-aapl-visa-v stockosh Beck, an analyst for Pacific Crest, claims that improved security features announced by Visa could lead to an team up with a major tech company. He claims that a team up between Apple and Visa would make strategic sense and that it could possibly be announced this fall, reports MarketWatch.

Beck pointed to Apple Passbook as an example of what a team up between the two companies could do. He said a combined mobile payment system would be like Passbook on steroids and that the company’s roughly 800 million card numbers stored on iTunes could be part of a mobile payment system, MarketWatch notes.

If Apple and Visa do team up on the mobile payment front, the companies could take advantage of a rumored feature for the iPhone 6. The iPhone 6 will supposedly support near-field communications, which could be used to scan certain cards for payments, reports Barron’s.

AAPL stock was down slightly as of Tuesday afternoon.

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