Many aspects of Apple's iWallet mobile payment system, which has largely been expected for the next iPhone, are becoming clearer thanks to a slew of new patents that were approved by the U.S. government earlier this week, according to a report from the International Business Times. A number of patents were issued for the technology earlier this month, but a second round of approvals this week brings further clarity to the technology of the forthcoming system.

More companies are developing ways to make traditional credit card use safer and more rewarding for consumers prior to the widespread adoption of mobile wallets, according to a report from financial news site The Street. However, because mobile wallet use is still projected to be a few years away, that leaves consumers ample opportunity to reap a number of benefits in the interim.

The total amount of consumer credit taken on by Americans increased significantly in the month of January even as borrowers made concerted efforts to slash the amount they owed on their credit cards, according to the latest statistics on consumer credit released monthly by the Federal Reserve Board. In all, consumer credit rose 8.6 percent to a nationwide total of more than $2.51 trillion, up from December's total of more than $2.49 trillion.