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

citi Avatar
97 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.
Score: 10 Votes (Like | Disagree)
osx11 Avatar
97 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:
Score: 4 Votes (Like | Disagree)
bmunge Avatar
97 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?
Score: 4 Votes (Like | Disagree)
Pakaku Avatar
97 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.
Score: 3 Votes (Like | Disagree)
keysofanxiety Avatar
97 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.
Score: 3 Votes (Like | Disagree)
Lapidus Avatar
97 months ago
Didn't see that coming..
Score: 3 Votes (Like | Disagree)

Top Stories

16 inch macbook pro m2 render

When Can We Expect the Redesigned MacBook Pros Now?

Wednesday June 16, 2021 7:11 am PDT by
With no sign of redesigned MacBook Pro models at this year's WWDC, when can customers expect the much-anticipated new models to launch? A number of reports, including investor notes from Morgan Stanley and Wedbush analysts, claimed that new MacBook Pro models would be coming during this year's WWDC. This did not happen, much to the disappointment of MacBook Pro fans, who have been...
YouTube Picture in Picture Feature

YouTube Says iOS Picture-in-Picture Coming to All US Users

Friday June 18, 2021 9:41 am PDT by
After a long wait, YouTube for iOS is officially gaining picture-in-picture support, allowing all users, non-premium and premium subscribers, to close the YouTube app and continue watching their video in a small pop-up window. In a statement to MacRumors, YouTube says that picture-in-picture is currently rolling out to all premium subscribers on iOS and that a larger rollout to all US iOS...
2021 back t0 school

Apple Launches 2021 Back to School Promotion: Free AirPods With Eligible Mac or iPad Purchase

Thursday June 17, 2021 4:56 am PDT by
Apple today launched its seasonal back-to-school sale for the upcoming school year in the United States and Canada, offering students free AirPods alongside purchases of select Macs and iPad models. Similar to last year's promotion, this year's offer includes free AirPods alongside the purchase of a MacBook Air, MacBook Pro, the new 24-inch iMac, the Mac Pro, Mac mini, and the new M1-powered ...
applecare lower prices

Apple Lowers Prices of AppleCare+ Plans for M1 MacBook Air and MacBook Pro

Thursday June 17, 2021 7:33 am PDT by
Apple today lowered the prices of AppleCare+ plans for MacBook Air and 13-inch MacBook Pro models equipped with the M1 chip. Coverage offered by the plans, as well as accidental damage fees, appear to remain unchanged. In the United States, AppleCare+ for the MacBook Air now costs $199, down from $249. The new price applies to both M1 and Intel-based MacBook Air models, although Apple no...
maxresdefault

Video: 20 Annoyances Apple Fixed in iOS 15 and macOS Monterey

Friday June 18, 2021 11:36 am PDT by
With iOS 15 and macOS Monterey, Apple is adding several quality of life improvements, which are designed to address some of the complaints that people have had with these operating systems for years now. Subscribe to the MacRumors YouTube channel for more videos. In our latest YouTube video, we're highlighting some of our favorite "fix" features that address long-running problems in iOS and...
Top Stories 63 Feature

Top Stories: Beats Studio Buds Announced, Apple Watch Series 7 Rumors, and More

Saturday June 19, 2021 6:00 am PDT by
The Apple news cycle started to move beyond WWDC this week, but that doesn't mean there still wasn't a lot to talk about, led by the official debut of the much-leaked Beats Studio Buds that might give us a hint of what to expect for the second-generation AirPods Pro. With no hardware announcements at WWDC, we also took a look at when we might finally see the long-rumored redesigned MacBook...
m1 v intel thumb

Intel Processor Market Share May Fall to New Low Next Year Due to Apple Silicon

Friday June 18, 2021 2:06 am PDT by
Intel may see its market share fall to a new low next year, in large part thanks to Apple's decision to move away from using Intel processors in its Mac computers and instead use Apple silicon. Apple announced last year that it would embark on a two-year-long journey to transition all of its Mac computers, both desktops, and laptops, to use its own in-house processors. Apple is expected to...
space gray magic accessories trio

Apple Stops Selling Magic Accessories in Space Gray

Friday June 18, 2021 9:16 am PDT by
Apple this week stopped selling its Magic Keyboard with Numeric Keypad, Magic Mouse 2, and Magic Trackpad 2 accessories for the Mac in a Space Gray color, around three months after discontinuing the iMac Pro, which also came in Space Gray. Last month, Apple listed the Space Gray accessories as available while supplies last, and the company has now removed the product pages from its website...
maxresdefault

Apple CEO Tim Cook: Sideloading Apps Would 'Destroy the Security' of the iPhone

Wednesday June 16, 2021 10:49 am PDT by
Apple CEO Tim Cook this morning participated in a virtual interview at the VivaTech conference, which is described as Europe's biggest startup and tech event. Cook was interviewed by Guillaume Lacroix, CEO and founder of Brut, a media company that creates short-form video content. Much of the discussion centered on privacy, as it often does in interviews that Cook participates in. He...
3nm apple silicon feature

Apple Supplier TSMC Readies 3nm Chip Production for Second Half of 2022

Friday June 18, 2021 6:59 am PDT by
Apple supplier TSMC is preparing to produce 3nm chips in the second half of 2022, and in the coming months, the supplier will begin production of 4nm chips, according to a new report from DigiTimes. Apple had previously booked the initial capacity of TSMC's 4nm chip production for future Macs and more recently ordered TSMC to begin production of the A15 chip for the upcoming iPhone 13,...