Apple plans to turn its iPhone 6 into a mobile wallet

CUPERTINO, Calif. (WABC) -- Apple is planning to turn its next iPhone into a mobile wallet.

According to Bloomberg, the Cupertino-based tech giant is teaming up with Visa, MasterCard, American Express and other major payment networks to make it happen.

The wallet function on the iPhone 6 will allow customers to securely make mobile payments in a store with the touch of a finger.

The agreement is expected to be announced next week.