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Apple May Soon Launch A Mobile Payments Service Of Its Own

It has been rumored for a while that Apple may be interested in a mobile payments service of its own. Now, sources close to the development say such a service would allow iPhone and iPad users to pay for physical goods and services.

iOS mobile payments

Apple has been steadily setting the ground so that when it launches its mobile payments service, there are adequate support tools and platforms for it. For instance, the company has already added Touch ID to its devices, ensuring a better security mechanism.

Not only that, Apple has also started using iBeacon across a number of its retail locations. It was initially estimated that Apple may limit the use of its mobile payments solution to purchasing hardware off its own stores. But new reports suggest that the scope of such a solution would be far greater.

Apple SVP Eddy Cue, for instance, has been meeting industry executives to try and bring them on board with the idea. This means that if these executives are on board when Apple launches its payments service, it may allow iPhone and iPad users to pay for physical goods at a number of Apple and non-Apple retail locations. Imagine going into a Target store and paying your bill simply by using your iPhone.

Another interesting move by Apple further affirms this. The company recently reappointed Jennifer Bailey to its payment business development, whereas she has formerly been overlooking Apple’s online stores. The company wants people who have experience in the retail industry, to work on the project. Given such momentum, we may expect Apple to unveil the payments solution sometime later this year.

Source: WSJ

Courtesy: iClarified

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