Apple iWallet a Potential Feature in iOS 7

Some are speculating whether Apple's next iOS will go beyond the Passbook app, an app that holds coupons and store gift and rewards cards, and unveil their more official iWallet -- a method to pay for products in any participating store. Since Apple already has a huge storehouse of user credit card information via their consumer's iTunes accounts, they could create an iWallet app with a bar code that allows users to scan their phones and charge purchases to the credit card associated with their iTunes account. With iOS 7 supposedly making an appearance later this summer, we'll see the truth of these rumors in a matter of months. 

Source: http://appleinsider.com/articles/13/04/05/itunes-accounts-with-credit-cards-a-tremendous-asset-for-potential-apple-e-wallet