- Apple (AAPL +4.8%) plans to launch a mobile payment solution called Pay in a bid to replace physical wallets, credit cards, and other mobile wallet services which have "failed" - according to CEO Tim Cook.
- The company will use its Passbook app and a customer's iTunes account details to store payment information, while NFC and touch ID technology will be utilized. The major credit card companies are already on board and Apple is lining up powerhouse banks. Shares of eBay (EBAY -1.9%) have dipped off the development.
- Apple will launch iOS 8 on September 17 in front of the September 19 release date for its new iPhone 6 in the U.S.
- More on the iPhone 6: Wi-Fi calling will be available for both new products. 14 hours of 3G talk time for the 6 and 24 hours for the Plus are promised. The phones feature a new sensor which serves as a barometer to measure elevation changes (Nike (NKE +0.1%) is on board). The 8MP iSight camera appears to be a serious jump in quality (video at 1080p and a slo-mo option at 240 fps). FaceTime gets a serious upgrade through the new front-facing camera. Pricing tops out at $399 for the 128GB iPhone 6 with a two-year contract.
- Apple event webcast