Apple reportedly working on mobile payment service

Reports suggest that Apple is planning to launch its own payment service so iPhone and iPad users can pay for goods with their iTunes accounts.

 

According to the Wall Street Journal, Apple is planning to launch its own payment service placing it against rival services such as PayPal and Google Wallet. 

The report claims to have moved Jennifer Bailey, an executive who once ran Apple online stores, to direct and build the payment service.

Senior Vice President of Internet Software and Service, Eddy Cue, is said to be meeting with industry executives in retail and commerce to prepare the market for the Apple entry. 

The service has huge potential with such a massive customer base already, with 575 million active Apple ID accounts compared to PayPal’s current 137 million accounts.

Apple could quite easily transition its customers onto the mobile payment service.  

Apple launched Passbook in 2012, an iOS app that allows users to store important information such as boarding passes, store cards, tickets and other forms of payment.

The payment service however will allow users to pay for anything with their iPhone and iPad, charging the payment to their registered iTunes Accounts.  

Unsurprisingly, Apple is yet to comment on the rumour.

Comments

Be the first to comment…

Back to top
Close
T3 Newsletter
Sign up to recieve the T3 newsletters by entering your details below

Your Details

As you're registering with us. we'd like to think that you'd enjoy receiving the following emails; if you'd rather not receive them, please untick the boxes:

I would like to receive other emails from T3, Future Publishing Limited and it's group companies containing news, special offers and product information
I agree to the terms of use and privacy policy and confirm that I am over 16 years of age *
Close
Log in or Join

By clicking below you agree to our terms and conditions and our privacy policy

Log in to T3.com with your preferred social network

Log in with your T3.com account

CloseJoinPlease complete these additional details

Join T3.com with your preferred social network

OR

Join T3.com

Please tick this box to confirm you are 16 years old or over

Just so we know you're human

Newsletters

I would like to receive T3 email newsletters, packed full of the latest tech news, competitions and exclusive offers.

I would like to receive other emails from T3, Future Publishing Limited and its group companies containing news, special offers and product information.

I would like to receive offers from carefully selected third Parties. We will not share your data with the third party.

Close Edit your profile

Change your password

Newsletters

I would like to receive T3 email newsletters, packed full of the latest tech news, competitions and exclusive offers.

I would like to receive other emails from T3, Future Publishing Limited and its group companies containing news, special offers and product information.

I would like to receive offers from carefully selected third Parties. We will not share your data with the third party.

Social networks

You have authorised these social networks to interact with your T3.com account.

Please ensure you deactivate or revoke access to this website from within your social networks settings to ensure all permissions are removed.

Close Forgotten your password

Forgotten your password?

Please enter the email address that you used to sign up and we'll send you a new password

Close
Forgotten password
Don't have a T3 Account? Join now