THE NEWS WRAP: New iPhone to be equipped for mobile payments

Apple’s new iPhone, set to be unveiled on September 9, will feature the company’s own payment platform, sources told Wired.

 

Sources say the platform will involve NFC technology.

 

Payment platforms like Google Wallet, Isis, and Square have been around for years, but Apple has remained silent on the mobile payments front.

 

Apple has over 800 million credit cards already on file thanks to iTunes and a huge pool of potential users thanks to the millions of iOS devices out there.

 

IFTTT raises $30 million


IFTTT, a startup which aims to give people more control over the online services they use on a daily basis, has announced it has raised $30 million in funding from Norwest Venture Partners and Andreessen Horowitz, The New York Times reports.

 

The startup’s app – whose name is short for “If this then that” – is essentially a giant switchboard to connect disparate services like Facebook, text messaging or telephone calls. Users can create recipes in which an action on one service can trigger an action on an entirely different service.

 

Microsoft CEO visits China amid antitrust probe


Microsoft has announce chief executive officer Satya Nadella is set to visit China in late September, as Chinese government conducts an antitrust investigation into the company, Reuters reports.

 

It’s not clear if Nadella will speak with Chinese government representatives during his visit.

 

A company spokesperson told Reuters the visit was planned before the investigation began and they are committed to complying with China’s laws and addressing government concerns.

 

Overnight

 

The Dow Jones Industrial Average is down 42.44 to 17,079.57. The Australian dollar is currently trading at US94 cents.

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