Apple patents iKey

Apple is developing technology which will allow people to open their car and front door using their iPhone, states The Daily Record.

According to the tech giant, the iKey will take away the need for people to carry around a bunch of keys. Users will be able to enter a pin code and scan their phone over an RFID device fitted beside the door to open it.

Car manufacturers, including Mercedes, Lexus and Toyota, are also starting to use keyless entry systems for their vehicles.

Citibank has completed the world's largest near field communication (NFC) contactless payment pilot project, states RFID Journal.

MasterCard supported the pilot with advice and expertise gained from other NFC pilots from across the globe, and provided the PayPass certification for the payment process.

Citibank says there is strong consumer demand for mobile payment solutions. However, NFC-enabled phones are not yet popular and alternatives such as RFID or microSD cards will play a role to get NFC deployments off the ground.

Security systems maker Federal Signal has completed its $70 million acquisition of Sirit, a Canadian-based RFID company, says Associated Press.

Federal Signal agreed last month to buy Sirit for $70 million, or about 45 cents per share. It raised the offer twice from an original bid of $48 million.

The Ontario Superior Court of Justice approved the sale this week. Federal Signal's stock rose five cents to $8.59 in midday trading.