Speculations of iPhone 5's global release as Apple aims for worldwide domination by working with the largest telecommunications company is currently fueling the rumor mills . However, another evidence of Apple's move is its NCF and mobile payments support.

Rumors suggest that Apple will be equipped with Near Field Communications, which allows devices to communicate or contact another device in close proximity. It almost works like Bluetooth. Moreover, NCF is the entry point for making mobile payments.

If Apple will pursue in further developing NCF, it could pave the way for NCF in making it in the mainstream and provide a new way of making payments for goods and services.

Google announced its mobile payment system last year. According to Google's FAQ, about 140,000 merchants in the U.S. currently accept the mobile payment system. Apple seemed to be testing the waters as NCF is getting more popular and the tech giant is taking advantage of the fact that it could be the first company to offer a complete and convenient mobile payment system.

Apple is already in the position to enter the real world as a payment processor. The company has millions of credit cards on file through iTunes, and it has been running micro transactions through the app store for years.

Another evidence of possible development of mobile payment system is the new iOS 6 feature, With this feature, tickets are now digitized with this new app. This is complete with QRCodes and 2-D barcodes. Gain access to the movies theater and sporting events by simply flashing your iPhone to the ticket counter.

Other rumors about the new iPhone 5 are it will be equipped with a variant of A5X chip, 1GB RAM in iPhone 4S/iPhone 4 casing. In earlier reports, iPhone 5 will be released in October. However, there are new reports that the media event for the iPhone launch will be held in September along with the fourth generation of iPad.

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