Under the deal with China UnionPay, users would be able to download the bank card organization’s app to Passbook in their iPhones and make mobile payments on over 3 million China UnionPay’s “QuickPass” POS machines in China, the source said. Currently China UnionPay is developing a system that follows its PBOC QuickPass standard which is compatible with Apple's iOS. Major Chinese banks have been invited to participate in the project.
Additionally, the companies are said to be working on another mobile payment solution that would let customers make purchases in Apple Stores.
In September 2012, Phil Schiller revealed why the iPhone 5 did not have NFC support. It's not clear that NFC is the solution to any current problem, Schiller said. "Passbook does the kinds of things customers need today."
Following the launch of iOS 7, it appeared as though an Apple mobile payments service would be more likely to run off iBeacons; however, last month KGI Securities analyst Ming Chi-Kuo also predicted that the iPhone 6 would support NFC.
More details in the full report linked below...