Apple reportedly has several agreements in place to launch their own mobile wallet with the release of iOS 8 and the iPhone 6.

Unnamed sources close to the matter told Bloomberg News the agreements are with banks, retailers, credit card companies and other payment networks. Highlighting the supposed agreements are Visa, MasterCard and American Express.

Since the launch of the iPhone 5S and its Touch ID fingerprint scanner, Apple has been developing easier ways for its handset users to make payments. Apple's iWallet (if that's what it's called) is set to take that another step further.

Apple announced an event to take place Tuesday, Sept. 9 most likely to unveil the iPhone 6, which will come equipped with the company's new mobile operating system. Apple is prepping major upgrades for the follow up to iOS 7.

Google has already been trying to allow consumers to use their smartphones to make payments in retail stores, not just online. However, the retailers have not held up their end to accommodate for such technology, making it difficult for the consumers to take advantage. Ben Bajarin, an analyst for Creative Strategies LLC, said Apple could be the company that pushes retailers over the edge, given the popularity of the iPhone.

"Love it or hate, Apple drives a lot of standards in the industry," he told Bloomberg. "They are the mover in these markets. When they do something, the industry seems to follow.

"It's about retention, solving and adding features that keep your base engaged and keeping them loyal."

Apple, Visa, MasterCard and American Express all declined to comment.

Richard Crone, CEO of Crone Consulting LLC, said Apple's mobile wallet is a potential game changer and would allow advertisements to reach shoppers in the stores, effectively bringing the online shopping experience to physical retailers.

"There's huge potential with Apple having a market-defining opportunity," Crone told Bloomberg. "There's lots of moving parts in payment that make the deals they did with artists and Hollywood for iTunes look like child's play."

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