Dice Woyke, an entrepreneur who works in a top secret NFC project got a tip from his Apple insider friend regarding implementation of NFC (Near Field Communication) in the future iPhone 5. The only thing confirmed so far is that Apple is working on such technology, it hired a group of experts last August. Beyond that, all we have is speculation.
9to5mac also published a report that that one of their source working for Foxconn has seen prototypes arrive in their factories to launch mass production. iPhone 5 is said to look fairly similar to the iPhone 4 except for two very important differences: materials and screen size.