Cupertino, California (The Adobo Chronicles) – Apple has been working with Visa, Mastercard and American Express for the latest iteration of its iPhone scheduled to be released September 9.

Contrary to speculation, Apple will not be announcing the iPhone 6. Rather, it will be releasing the iPhone Wallet, capable of making payments at retail stores that accept credit or debit cards.

The new iPhone will come in black or brown pure leather but will not have a screen. The keypad is imbedded in the wallet, as are the microphone and speaker. Calls and payments can be made using the keypad. The keypad is automatically connected to cash registers via bluetooth.

While the iPhone Wallet will not have the capability of taking pictures, sending emails or browsing the Internet, it has a special compartment that can hold the user’s old iPhone.

The good news is that the new iPhone will retail for only $99 , with no two-year contract required.