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Tim Cook: Mobile Payments 'One of the Thoughts' Behind Touch ID

applestore.pngDuring Apple's earnings call today, CEO Tim Cook indicated that mobile payments were one of the driving forces behind the company’s decision to introduce Touch ID with the iPhone 5s.
The mobile payments area in general is one that we’ve been intrigued with. It was one of the thoughts behind Touch ID.
Cook went on to say that people love being able to buy digital content from their iPhones using Touch ID, because it's "incredibly simple and easy and elegant."

He added that while Apple is not planning on limiting Touch ID to digital purchases, the company had nothing specific to announce today, mobile payments are an opportunity that Apple has been "intrigued with" and there is a "big opportunity on the platform."

Tim Cook's comments on mobile payments follow a report last week that suggested Apple is currently working on developing a new mobile payment service that will allow the company to handle payments for physical goods and services in the future.

While Apple currently limits iTunes account holders to using their stored credit card information for purchases on Apple's online and retail stores through the Apple Store app, iTunes, and the App Store, stored information could be used in the future for other types of payments with Touch ID technology used to speed up and authenticate real world purchases.

Related roundup: Apple Pay

Top Rated Comments

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11 months ago

I ain't touch the Touch ID feature with a ten foot pole, buddy. I don't like the idea of impulse buying, which is why I disable in app purchases as a matter of course. We're gonna see a lot of people spending money they don't have because pay this way is just a but of bits flying around. You don't see your hard earned cash leaving your wallet.


The same can be said about debit cards. If you are a spender, you will spend. If you are not, you won't.
Rating: 10 Votes
11 months ago

I ain't touch the Touch ID feature with a ten foot pole, buddy. I don't like the idea of impulse buying, which is why I disable in app purchases as a matter of course. We're gonna see a lot of people spending money they don't have because pay this way is just a but of bits flying around. You don't see your hard earned cash leaving your wallet.


Do you have a credit card?
Rating: 4 Votes
11 months ago

The same can be said about debit cards. If you are a spender, you will spend. If you are not, you won't.


I like the people who blame technology when, in reality, they have a spending and consumption problem. :cool:
Rating: 4 Votes
11 months ago
Didn't see that coming..
Rating: 3 Votes
11 months ago

Its about freaking time, how about a TV that doesn't suck that crushes Xbox and PS4, and implements a better, more streamlined Youtube-like platform for user generated content while you're at it? Getting a little tired of defending single digit growth over here... Thanks.


I see you've had your morning glass of prune juice. Just relax, Apple will release whatever they need to when it's ready.
Rating: 3 Votes
11 months ago

Who said anything about impulse buying being Apple's fault? Credit cards, on-line payments, the speedy pass payment all makes it easier to impulse buy. You have kids? You'll know the kind of financial headaches they can cause if you don't lock down the their devices to prevent in app purchases. Ever let the Missus go shoe shopping alone with YOUR credit card? That's the fast track to the poor house, buddy.

Touch ID is the first thing I would disable. THAT is taking responsibility. Disabling in app purchasing. THAT is taking responsibility. Suffer on a shopping trip with the Missus to keep her spending in check. THAT, my friend, is what it takes to be a man.


I just have to say, this whole "missus" thing sounds really... I don't know. Chauvanistic? Whatever putting your wife on the same level as your kids equates to.

I also don't understand how TouchID = giving your card out to someone else.
Rating: 3 Votes
11 months ago

I ain't touch the Touch ID feature with a ten foot pole, buddy. I don't like the idea of impulse buying, which is why I disable in app purchases as a matter of course. We're gonna see a lot of people spending money they don't have because pay this way is just a but of bits flying around. You don't see your hard earned cash leaving your wallet.


People that can't manage their finances / spending isn't Apple's problem same way it isn't McDonald's problem if you get fat by eating at their restaurants.
Rating: 2 Votes
11 months ago

Who said anything about impulse buying being Apple's fault? Credit cards, on-line payments, the speedy pass payment all makes it easier to impulse buy. You have kids? You'll know the kind of financial headaches they can cause if you don't lock down the their devices to prevent in app purchases. Ever let the Missus go shoe shopping alone with YOUR credit card? That's the fast track to the poor house, buddy.

Touch ID is the first thing I would disable. THAT is taking responsibility. Disabling in app purchasing. THAT is taking responsibility. Suffer on a shopping trip with the Missus to keep her spending in check. THAT, my friend, is what it takes to be a man. ;)


I agree.

Don't even bother with banks. Store all your cash in the freezer, and also fry your fingerprints off, the missus might chop your fingers in your sleep and use them to buy jewelz and lipstick.
Rating: 2 Votes
11 months ago

Its about freaking time, how about a TV that doesn't suck that crushes Xbox and PS4, and implements a better, more streamlined Youtube-like platform for user generated content while you're at it? Getting a little tired of defending single digit growth over here... Thanks.


I think the article was about using Touch ID for mobile payments.

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Who said anything about impulse buying being Apple's fault? Credit cards, on-line payments, the speedy pass payment all makes it easier to impulse buy. You have kids? You'll know the kind of financial headaches they can cause if you don't lock down the their devices to prevent in app purchases. Ever let the Missus go shoe shopping alone with YOUR credit card? That's the fast track to the poor house, buddy.

Touch ID is the first thing I would disable. THAT is taking responsibility. Disabling in app purchasing. THAT is taking responsibility. Suffer on a shopping trip with the Missus to keep her spending in check. THAT, my friend, is what it takes to be a man.


Wow. the 1950s called - they want their attitude towards women back.
Rating: 1 Votes
11 months ago

I ain't touch the Touch ID feature with a ten foot pole, buddy. I don't like the idea of impulse buying, which is why I disable in app purchases as a matter of course. We're gonna see a lot of people spending money they don't have because pay this way is just a but of bits flying around. You don't see your hard earned cash leaving your wallet.


Who said anything about impulse buying being Apple's fault? Credit cards, on-line payments, the speedy pass payment all makes it easier to impulse buy. You have kids? You'll know the kind of financial headaches they can cause if you don't lock down the their devices to prevent in app purchases. Ever let the Missus go shoe shopping alone with YOUR credit card? That's the fast track to the poor house, buddy.

Touch ID is the first thing I would disable. THAT is taking responsibility. Disabling in app purchasing. THAT is taking responsibility. Suffer on a shopping trip with the Missus to keep her spending in check. THAT, my friend, is what it takes to be a man.


**scratching head**
Rating: 1 Votes

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