Apple receives patent for m-payments

Apple has been granted a patent for setting parental controls on
mobile payment apps.

The patent paper says:

“The financial transactions rules may be based
upon transaction amounts, aggregate spending amounts over a period,
merchant categories, specific merchants geographic locations or the
like.

“The device may update the financial
transaction rules associated with a subsidiary account by
communicating the rules to an appropriate financial server.”

The patent is called Parental Controls and
would be used for mobile wallet technology.

Apple has not confirmed any plans to offer a
mobile payments service yet, although there have been rumours for
at least two years. But the patent is an indication that the firm
is at least considering such a service.