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PayPal Angling for Mobile Payment Partnership with Apple
PayPal wants to be a part of Apple's mobile payment system and is willing to work closely with the Cupertino company to bring the initiative to fruition, claims a report from Re/code.
Apple is allegedly focusing on the iPhone for its mobile payment system, though details on how the phone will process payments is not known. A recent patent application hints at the use of NFC and Bluetooth, the latter of which is compatible with the company's iBeacon technology. Apple recently deployed iBeacons throughout its retail chain of stores, while retailers like American Eagle and Safeway are experimenting with the technology in limited trials.
Today's report echoes an earlier report from the Wall Street Journal that said Eddie Cue was meeting with industry executives to "to discuss Apple's interest in handling payments for physical goods and services on its devices." Tim Cook also confirmed during Apple's recent earnings conference call that the mobile payment area was "one of the thoughts behind Touch ID" in the iPhone 5s.
Three payments industry executives tell Re/code that eBay-owned PayPal has been pitching Apple on helping the consumer electronics maker bring its long-rumored payments initiative to fruition. These people, who have spoken to contacts at both Apple and PayPal, say that PayPal is essentially willing to white label parts of its payment service to be used in an Apple mobile payments system — anything from fraud detection to back-end infrastructure, even possibly down to the processing of payments.Re/code's sources claim Apple is capable of rolling out a mobile payment system without PayPal's help, but they could not rule out the possibility of some type of partnership between the two companies.
Apple is allegedly focusing on the iPhone for its mobile payment system, though details on how the phone will process payments is not known. A recent patent application hints at the use of NFC and Bluetooth, the latter of which is compatible with the company's iBeacon technology. Apple recently deployed iBeacons throughout its retail chain of stores, while retailers like American Eagle and Safeway are experimenting with the technology in limited trials.
Today's report echoes an earlier report from the Wall Street Journal that said Eddie Cue was meeting with industry executives to "to discuss Apple's interest in handling payments for physical goods and services on its devices." Tim Cook also confirmed during Apple's recent earnings conference call that the mobile payment area was "one of the thoughts behind Touch ID" in the iPhone 5s.
Related Roundup: Apple Pay
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62 months ago
Of all the loathesome, anti-consumer companies I am happy to have divorced myself from it is Paypal. I have faith that despite Paypal's desperate pleas and years of experience, Apple does not need one more middleman between the consumer and retailer. TouchID is a beautiful thing and needs to be as far removed from slime like Paypal as possible.
62 months ago
please don't have a 3rd party involved with payments. just bill it to the credit card that i have on my iTunes account.
62 months ago
Excellent way for Apple to demolish it's reputation of superior customer service. I know it's a cliche, but seriously, Steve Jobs would never consider doing business with Paypal after his experience w/ Motorola. We'll see if his protege Cook understands the stakes too.
62 months ago
I really hope Apple don't team up with Paypal. Every few years they freeze my account, (and everybody else I know who lives here who has one), for no reason whatsoever - supposedly "security". Then make you jump through impossible hoops to get it unblocked. Like sending non-existent unlock codes. Mine has several hundred dollars in it. Been trying to unlock it for over a year already. Can't even find a phone number to call them. They've basically stolen my money.
62 months ago
Why would apple... a trustworthy and honourable company, ever want to work with a company that practically encourages fraud failing to help when it happens to their customers, referring to small-print to cover their asses...
Paypal must be scared...
Paypal must be scared...
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