The iPhone 6 is expected to be released in just a couple of short weeks, and Apple has been busy finalizing what apps and features will be included with the end product. While it has been rumored for a few months that Apple would include a digital payment plan with the new smartphone, a new report says the tech giant will be doing just that - with the help of several major credit card companies.

The latest version of the smartphone from Apple is anticipated to include a system that allows people to pay with their phones both online and in physical stores. All a user would have to do is touch their phone to a reader in the store where they are shopping, and the money would be automatically withdrawn from or charged to the person's bank account. Now, Apple has signed an agreement with American Express, Visa and Mastercard as backers for the new system.

"The new iPhone will make mobile payment easier by including a near-field communication chip for the first time," an inside source tells Bloomberg News. {remember to use active tense -- "tells" instead of "told", for example}

The new system - which is being called the iWallet - would also have a secure element to safely store sensitive financial information on a separate piece of hardware for added security. The credentials would then only be accessed by the phone's owner. Retail partners with the credit card firms, such as Neiman Marcus and Staples, hope that a quicker payout will lead to more successful sales.

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