The Apple iWatch will sport a flexible NFC connectivity and OLED display that could facilitate its use for mobile payments as a sort of a digital wallet, according to reports by the Wall Street Journal and the New York Times.

The information appears five days before the scheduled launch of iWatch on September 9th. It appears in the publications that Apple has traditionally trusted to lift the cover off its upcoming devices to some extent and raise excitement about the upcoming event.

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So what will the iWatch be?

According to New York Times, iWatch wearable device will come in two sizes having a flexible screen protected by sapphire glass. It is rumored of coming in 1.3”, Pebble-sized and a larger, 1.5” one model. Apple has allegedly even thought of solar charging for the iWatch, but has eventually opted for wireless charging instead.

Moreover, we have been constantly hearing that the wearable will be able to record health and fitness related information. Additionally, the main focus of Apple  is the tremendous accuracy of those measurements: Apple has reportedly “put an enormous amount of time and capital” to have the sensors tracking “much more accurately than existing fitness devices”. All of that  tracking data will be pushed to Apple’s HealthKit app, and the iWatch will also be able to sync with the newly announced Handoff feature for data sharing.

The other big reports coming from the Wall Street Journal is that iWatch will support a near-field communications (NFC) chip, most likely for mobile payments. There is also a rumor of Apple collaborating with Visa, MasterCard and American Express, for an iPhone-powered payment system.

NFC’s utility is not limited to just mobile payments: you can use a device like an NFC iWatch instead of your subway card,just for turning on lights, or swiping it to clutch a ticket, or easier pairing with devices. NFC-enabled iWatch could enable Apple Inc. to move into home automation domain.

Apple is planning to start accepting pre-orders for the device way prior to it actually arrives on the market. There are speculations about iWatch releasing in early 2015, despite earlier promises by Apple CEO Tim Cook to bring a new category of devices this year.

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