With Apple set to announce iOS 6 at its WWDC event, speculation is mounting that this update will include the much-anticipated iWallet. However, could millions of us already be carrying the mobile money belt in our pockets?

According to Forbes, Apple’s iWallet will use Bluetooth as opposed to NFC for its mobile money transfer scheme. What’s more, this Bluetooth functionality is already in place on the iPhone 4S. All that is now needed for it to work is an upgrade to iOS 6.

As rival manufacturers pack their Android phones with NFC technology, Apple has distanced itself from a technology that is really yet to take off.

Now we may know why. By implementing Bluetooth Low Energy (BLE) for mobile payments, customers will no longer need to approach cashiers, instead being able to make payments from up to 50 meters away.

If the Forbes prediction comes true, a Bluetooth-powered iWallet will also appeal to retailers because  they won’t have to fork out on NFC-enabled equipment to receive payments.

Pocket-lint will be live at Apple’s WWDC event, which kicks off on 11 June, so watch this space for further news.

Do you think Apple's iWallet will use Bluetooth rather than NFC? Let us know your thoughts.