Apple seeks to define card-free commerce

With its innovative applications, advanced hardware, and sleek design, Apple's iPhone has become an icon of smartphones across the world.

The company's next model of the iPhone is expected to contain the technology that would help define the future of mobile cash and card-free commerce.

It is estimated that the market for a mobile phone payment system will grow from $172b to $600b within four years.

Al Jazeera’s Tarek Bazley reports.