Apple Inc. (AAPL) and Another Digital Wallet Patent

Apple Inc. (NASDAQ:AAPL) has filed patent applications in the past related to the use of a digital wallet. Once again, Cupertino has more of the same up its sleeve. While nobody knows for sure if this technology is ever going to make it ways into a future Apple device, the company definitely has options.

The most recent patent is entitled: Method and System for Managing Credits via a Mobile Device

In the abstract, you will learn more about how the proposed Apple Inc. (NASDAQ:AAPL) system works and what it has to offer users:

“System and method for delivering upon request credits having monetary value to a mobile device using a communications network. An account of available credit for the user of the mobile device is maintained and authorization to issue credit is generated when a request for credit for the mobile device is received and there is available credit in the account associated with the mobile device equal to or greater than the requested credit. Credit may be offset, or sponsored, by one or more token providers and issued to the user, upon authorization, to enable the user to use the mobile device to purchase items, e.g., at a point of sale terminal.”

If you don’t exactly understand what this patent is all about, here is what you need to know. This is more or less a service that issues credits to users. These credits can then be used to purchase goods and services in the “real world.”

Here is an example from the patent explaining how the technology could be used:

“In one embodiment of the invention, billing system meters usage of the services by each user and compares the metered usage with a free or subsidized balance allocated to each user. In this manner, although invoices are not sent to the users, the metered usage is compared with business rules associated with the users and the cost for providing the free or subsidized services to the users is invoiced directly or indirectly from advertisers. Other techniques to provide subsidized or free telephone services to the users are also envisioned. For subsidized telephone services, the users may be responsible for a portion of their usage and thus they would be interested in eliminating unnecessary use of such telephone services.”

Is Apple Inc. (NASDAQ:AAPL) ahead of itself with this type of technology or is this something we could expect to see in the near future? Only time will tell if Apple is able to actually incorporate this idea, but it is definitely something to keep an eye on.

This Apple Inc. (NASDAQ:AAPL) was originally filed on January 29, 2013. For an image of the patent, visit the following page: