Apple’s potential fifth-generation phone, the iPhone 5, will likely not support near field communications (NFC) technology, Bernstein Research analyst Toni Sacconaghi believes.

NFC technology allows things like mobile payment as owners of the NFC-equipped smartphones will be able to make payments for products and services by just waving the phone become special e-readers at stores.

However, NFC-based mobile payments require NFC-capable POS terminals. As per estimates, merely 51,000 retail locations currently support contactless payments.

In an investors note, Bernstein Research wrote, "Instead, we expect Apple will evaluate and come to market with partners or a complete solution later, perhaps when NFC infrastructure is more established."

The current state of NFC is not very encouraging. Technology giants like Microsoft and Google as well as a number of wireless carriers are currently testing mobile payment platforms, but none are past the testing phase.

Cupertino-based Apple’s next-generation iPhone is not expected to appear until late this summer.