Apple is Reportedly Working on a Mobile Payments Service for Physical Goods

POST

MAIL

Posted January 25, 2014 at 3:50am by iClarified

Apple is reportedly preparing an expanded mobile payments service that would let iPhone and iPad users pay for physical goods and services on their devices, reports the WSJ.

The service would leverage the hundreds of millions of credit cards on file via the iTunes Store. Apple SVP Eddy Cue has reportedly met with industry executives to discuss their interest in Apple handling payments for their products.

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, three people with knowledge of the move said. Those people said Apple also spoke to at least five other well-known executives in the payment industry about the position before tapping Ms. Bailey.

Apple's launch of a mobile payments service has long been rumored; however, with its new Touch ID, Passbook, and iBeacon features, the company is better poised than ever to debut such a service.

More details in the full report linked below...

Read More

Apple is Reportedly Working on a Mobile Payments Service for Physical Goods

Follow iClarified

Dean Evans - January 25, 2014 at 12:17pm

I may be stupid but it can't be that simple or you'd be paying for everyone's gas

Reply · Like

Jono - January 25, 2014 at 5:37am

Can't happen soon enough. Pull up to gas station, insert nozzle in to tank, fill, put nozzle back, go on with your day. Notice anything missing? No need to swipe a card, no need enter a zip, no need to deny a crappy car wash, no need to refuse a receipt or choose 87, 80 or 90. Your iPhone takes care of that for you. Less is way more.

Will - January 25, 2014 at 4:41pm

Hmmm that sounds a lot like what bitcoin and other digital currency can become. Except apple won't know about every single purchase, time, location and amount!!