The handset is expected to be unveiled on Tuesday 9 September and will come in 4.7-inch and 5.5-inch sizes.
It is thought the phone could boast a flexible and scratch-proof sapphire screen, which is about to go into large-scale production in the US.
The screen is tipped to be ‘Retina display+’ with a 1,704 x 904 resolution.
Experts also predict a faster A8 processor, better rear-facing camera – possibly with changeable lenses -and wireless charging support. It may also include a heart rate sensor like the Samsung Galaxy S5.
Apple is expected to link the system to its iTunes store, which already holds customer’s payment details, and has reportedly signed up Visa, Mastercard and American Express to this new scheme.
According to a source quoted by Bloomberg, ‘The agreement includes Visa, MasterCard and American Express, and will be unveiled on Sept. 9 along with the next iPhone.’
‘The new iPhone will make mobile payment easier by including a near-field communication chip for the first time’, the person told the firm.
Other reports claim the new phones will additionally include a ‘secure element’ to store increased sensitive data.
Apple has also made hires relating to ‘building a business around the hundreds of millions of credit cards it already has on file.’