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Report: Apple to Build a Mobile Payment Service

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Report: Apple to Build a Mobile Payment Service

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After adding the touch sensor to the iPhone 5s, Apple is looking to do more with the fingerprint sensor it seems. As per a report, Apple is looking forward to build a Mobile Payment Service.

The Wall Street Journal reported that, Eddy Cue, the company’s senior vice-president of Internet software and services, has met with “industry executives” to discuss Apple’s role in handling payments for physical goods and services. The mobile payment service is not used by many as people are sceptical about it, with companies like PayPal are working to give easier experience to users to pay for physical goods with their smartphones.

Having said that, the App Store is the only store with these many users registered with credit cards. In June of 2012, Apple CEO Tim Cook said that its then cache of 400 million iTunes accounts with credit cards made it “the store with the most credit cards on file anywhere in the world by far.”

As per the report, Apple is building a payment service which will not only be used in the app store but for other purchases as well. Apple has not commented on this yet, stay tuned for more. 

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Preetish Gumber
Preetish Gumber
iGyaan's New Brain key, Conceptual thinker, Work horse, Photography lover and tech writer catch him on Google Plus : Google+
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