Iphone’s iwallet patent; control the spending limit of kids

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Apple has published latest patent, explaining Apple’s new iwallet concept. It allows the individuals to configure number of accounts, which can be set-up to control the spending limits.

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Iphone’s iwallet patent; control the spending limit of kids

  1. 1. iPhone’s iWallet Patent; Control the spending limit of kidsApple has published latest patent, explaining Apple’s new iwallet concept. It allows theindividuals to configure number of accounts, which can be set-up to control the spending limits.This patent is called “Parental Controls” that could help parents to limit their child’s ability tospend money via an iPhone.The control can be configured for categories like, specific places where purchases can takeplace and the types of transactions which can be allowed. The patent also suggests that, parentwill be notified about their child’s activity on the accounts, including the details of the onlinepurchases. The app can also be set for the users, so that they cannot buy some unethicalproducts. The E-Wallet app is enabled with a primary account that is connected to a credit card.The users are able to use the app to manage transactions using their iPhone. The patent alsohints that it will integrate mobile payment solution so that it can be used outside of itsecosystem in the future. It also reveals that the iPhone would integrate NFC (Near fieldcommunication) chip for convenience. This technology is still in its early stage of iPhoneapplication development. So NFC enabled monetary transaction may not be secure completely.iPhone applications are the fastest evolving apps in the app industry. That’s why at Andolasoft,our iPhone application developers keep their skills updated with the latest technology and iOSreleases to match this competitive market. Here we develop engaging iPhone application tomeet our customer’s business requirements.

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