While there are plenty of rumors going around when it comes to the iPhone 5, Richard Doherty of Envisioneering Group claims that engineers are already working on integrating an NFC chip into Apple’s upcoming hardware. Considering that Google’s Nexus S also includes an NFC chip, it’s not too hard to imagine that 2011 will see an increase in interest when it comes to NFC technology. The analyst predicts that Apple will enter the NFC game with some new hardware and also a revamp of iTunes. The idea is to allow iTunes gift card balances and the credit card information that Apple already has from you to make payments at supported outlets. Users would want to use Apple’s service since the fruity company will offer benefits such as credits and points. Of course, this speculation could turn out to be nothing, but it’s still an interesting idea.