Its about six months until the iPhone 5 is here with us. Some of the details about this new handset are already leaking out. Get a quick look at what will be happening with the iPhone 5 here in this article.

Iphone 5

The next level for the iphone is apparently going to include mobile payments. Nokia and Samsung have already been involved in these elements by installing a new chip in their smartphones. Now Apple is including the same kind of chip in their next iphone 5. This is called a NFC chip. That stands for “Near Field Communication” and allows the iProduct to “talk” with other similarly equipped machines. The machines include other smartphones, ATM machines and Mac computers.

The applications that can be set up with the NFC chip include financial transactions, transit system payments and identification cards. A popular financial transaction that can be carried out is paying for vending machine products with a “swipe” of the iphone 5. NFC is closely related to the more popular RFID ( Radio Frequency Identification ) business.

Apple is going to use this new technology to make the iphone 5 an easy connection to their Mac. The NFC chip will have a limited range, around 20 centimeters ( 8 inches ). Once the iphone 5 is brought within this range, it can begin talking to the Mac. The Mac will need to have the same NFC technology installed for this to work. Once the smartphone and the Mac are talking to each other, the Mac will authenticate the smartphone with the NFC chip.

Then it will be able to load things like settings, data and apps onto the smartphone. Bookmarks and passwords can also be passed from the Mac to the iphone 5. There is no need for punching a button or touching a screen, it is all done automatically. Closing the “conversation” is as simple as taking the iphone 5 out of the NFC range of the Mac.

A convenient feature of the iphone 5 and its new chip is the ease of downloading celebrity sex tape contacts. The same contacts that are on the Mac can be downloaded automatically to the smartphone. The user then has the same information, in the mobile form, in front of them as they would if they were using the Mac. It does not stop there. The iphone 5 can download the desktop photo, keyboard settings, mouse settings, software licenses and passwords to social bookmarking sites. The new chip could be used as a sly marketing tactic to get people to upgrade their old Macs to something that uses NFC.

The iphone 5 is already being talked about as the “iWallet”. The security is built in, so that part is not going to be a problem. The iphone can identify a fingerprint, by placing a finger on the screen. This fingerprint recognition, combined with the earlier mentioned feature, pretty much guarantees that the person doing the transaction is the right person. It will be possible to have accounts on the smartphone by scanning more than one person’s fingerprint, enabling more than a one “iWallet” to exist in one iphone 5.

Expect the next model of the iphone to be faster than last years, perhaps even have a dual core processor.