Apple mulling move into mobile payments

Jan 25, 2014
Apple logo

Apple is considering launching a mobile-payments service for its iPhone and iPad, which would compete with major players such as PayPal, The Wall Street Journal said Friday.

The newspaper, citing sources familiar with the matter, said Eddy Cue, Apple's iTunes and App Store chief, "has met with industry executives to discuss Apple's interest in handling payments for physical goods and services on its devices."

Apple manages purchases of in its online store iTunes. Consumers can also buy using their iTunes account, meaning the company already has hundreds of millions of credit cards on file.

"In another sign of the company's interest, Apple moved Jennifer Bailey, a longtime executive who was running its online stores, into a new role to build a payment business within the technology giant," the newspaper said, citing "three people with knowledge of the move."

Apple could use the fingerprint reader on its latest model, the iPhone 5S, to limit fraud.

The company last year said it had 575 million registered users with its iTunes store and has sold 375 million iPhones over the last five years and 155 million iPads since its launch in 2010.

Explore further: Apple: People spent $10B in its app store in 2013

add to favorites email to friend print save as pdf

Related Stories

Apple to hand out iTunes credits in settlement

Feb 26, 2013

Apple has agreed to give more than $100 million in iTunes store credits to settle a lawsuit alleging that the iPhone and iPad maker improperly charged kids for playing games on their mobile devices.

Recommended for you

Dish restores Turner channels to lineup

10 hours ago

Turner Broadcasting channels such as Cartoon Network and CNN are back on the Dish network after being dropped from the satellite TV provider's lineup during contract talks.

'Call of Duty' blasts past $10 bn in sales

Nov 20, 2014

Blockbuster military shooter video game "Call of Duty" has blasted past $10 billion in lifetime sales, propelled by demand for the latest installment in the 11-year-old franchise.

Square's point-of-sale service goes global

Nov 20, 2014

Financial services startup Square is taking aim at cash registers across the globe, making its point-of-sale software available internationally in English, Spanish, French and Japanese.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.