The company has reached an agreement with Visa, MasterCard and American Express

Apple will equip its new iPhone(cheap cell phone cases) with a mobile wallet that allows for insurance on the phone in a store by simply touching the screen, according to a source familiar with the matter cited by Bloomberg payments.

The same source, who asked not to be identified for privacy talks, said that the Cupertino company has reached an agreement with Visa, MasterCard and American Express, to be announced on September 9 at the launch of the new phone. The new iPhone 6 will simplify mobile payments to include a special chip communication, along with a fingerprint recognition reader already present in the last phone. Spokesmen for the firms involved have not commented on the matter.

Although large tech companies are committed to developing forms of mobile payments in stores, shops have gone slowly in adopting this technology and therefore have limited their use by consumers, explained to Bloomberg Ben Bajarin, analyst with Creative Strategies LLC. In America, where iPhone is the best selling mobile, this could change with the entry into the market of Apple.

"Apple guide the market. When they do something, the other just following them. Implement mobile(best iphone 4 cases) wallet function involves keeping users in their ecosystem and increase user loyalty brand and demand for their products, "added the analyst.