If indeed the Apple iWatch turns out to have a near field communication chip, the landscape of point of sale credit card payments is about to change, even more so if the iWatch indeed is able to function as a stand-alone device, as opposed to a paired one, like nearly every other smartwatch on the market.

The question could be just how many iPhone features will be controlled by the iWatch. From a consumer point of view, if Apple hopes to have a grand debut into the wearable tech market, it needs to focus on allowing as much control as possible of the most familiar apps, or at least the ones available on iCloud.

The interesting aspect of the situation, is a joint statement issued by Google and Apple, suggesting that the two companies will be working together on a patent reform.

Apple has made claims as far back as 2011 in regard to the integration of NFC mobile payments, but such functionality has never been implemented. However, according to the new data, as well as new key hires that include experts in the field of NFC and radio waves technology, there is a chance future iPhone users will use “iWallet” technology.