Apple mulling move into mobile payments

January 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 sells 25 billionth song at iTunes store

Related Stories

Apple to hand out iTunes credits in settlement

February 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

World gears up for electric cars despite bumps in road

July 26, 2017

Technological advances mean fossil fuel in cars could be phased out within decades but switching to electric carries its own environmental and economic concerns as more and more countries announce radical plans.

Musk, Zuckerberg duel over artificial intelligence

July 25, 2017

Visionary entrepreneur Elon Musk and Facebook chief Mark Zuckerberg were trading jabs on social media over artificial intelligence this week in a debate that has turned personal between the two technology luminaries.

Adobe bidding Flash farewell in 2020

July 25, 2017

Adobe on Tuesday said its Flash software that served up video and online games for decades will be killed off over the next three years.

Microsoft Paint brushed aside

July 24, 2017

Microsoft on Monday announced the end of days for its pioneering Paint application as it focuses on software for 3-D drawing.

0 comments

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.