Apple may be introducing near field communications (NFC) in its next-generation iPhones and iPads and the capability could turn a mobile phone into a virtual wallet, according to several published reports.

Google has already rolled out the technology on its Nexus S phone and more are likely to follow. Also, many cell phone makers, broadband providers and technologists are rolling out near field communications this year. Here's the rundown on efforts by Apple, Google, Visa, LG, O2 and others to let mobile phones do even more in this week's New Media Minute.

-Daisy Whitney

Note:  Daisy's New Media Minute is published and sponsored separately from Beet.TV.  We are pleased to feature her report regularly on these pages. AP