Apple Continues Pursuing Mobile Payment Solution, Seeking to Hire Industry Executives
Apple is continuing with its plans to introduce a mobile payments service and has began interviewing senior payments industry executives to take on roles within the company, reports Re/code.
Apple is looking to fill two new positions, focused on building an electronic payment service based on the company's existing iTunes accounts. Millions of customers have personal accounts that already store credit card information, allowing them to make purchases within the Apple Store app, in retail stores, and through iTunes. Apple hopes to expand this to third-party avenues as well, both online and at retail locations.
The company has been meeting with potential applicants for two new positions at Apple focused exclusively on building a business around the hundreds of millions of credit cards it already has on file. Apple is seeking to fill head of product and head of business development positions, one of these people said.
"Their ambitions are very, very serious," one of the sources said.
Apple's interest in the mobile payment arena has been rumored for years but gained renewed attention in early 2014, when The Wall Street Journal announced the company was working on a new mobile payment service, hoping to allow people to use their iOS devices to make purchases for physical goods in apps and on the web as well as in retail stores using payment info stored in iTunes accounts.
Apple has also been in talks with Paypal about a possible partnership and reportedly mulled an acquisition of mobile payments company Square, though it appears an acquisition did not pan out.
The company's mobile payment system will possibly be tied to Touch ID, the fingerprint scanning home button built into the iPhone 5s and reportedly slated for the upcoming iPhone 6 and future iPads. Apple CEO Tim Cook said in January that mobile payments were "one of the thoughts" behind Touch ID. He has also said that Apple is "intrigued" with mobile payments and noted there's a "big opportunity on the platform."
Apple has promised new hardware, software, and services across 2014, and it's possible that a mobile payment solution could come later this year, though a set date is unclear as the company is clearly still in the hiring stages.
Popular Stories
Apple is "shaking up its color palette" for its iPhone 16 lineup this year, according to well-connected Bloomberg reporter Mark Gurman. Early iPhone 16 Pro dummy models via Sonny Dickson According to Gurman, the iPhone 16 Pro models will come in a Gold Titanium to replace Blue Titanium, while the Black, White, and Natural Titanium options that debuted with the iPhone 15 Pro will remain...
Apple's next-generation iPhone 16 series is expected to launch on September 20 and will compete in a quickly evolving smartphone market, and with some notable upgrades rumored, the new models could see price changes compared to previous years. Successive iPhone models always come with new features and hardware upgrades, but Apple typically does not increase the retail prices as a result....
Bloomberg's Mark Gurman today shared his final expectations for Apple's "It's Glowtime" event, providing some new tidbits and clarifications about the new devices set to be announced on Monday. iPhone 16 Pro Along with larger 6.3- and 6.9-inch display sizes, the iPhone 16 Pro and iPhone 16 Pro Max will have bezels that are "now about a third slimmer" for a "sleeker overall look." The...
iOS 18 has been in beta testing for nearly three months, and the software update will finally be released for all compatible iPhones soon. Apple should reveal iOS 18's exact release date during its September 9 event, with the most likely possibility being Monday, September 16. Below, we have highlighted eight key new features included in iOS 18. Note that Apple Intelligence is not coming...
The Apple Watch Series 10 will include a new sleep apnea detection feature, but it may not be available as soon as the new model launches, according to Bloomberg's Mark Gurman. Sleep apnea detection, which builds on the watch's existing sleep tracking, will attempt to determine if a wearer has sleep apnea and then suggest further testing with a medical professional. Gurman had expressed...
The upcoming iPhone 16 Pro might break a seven-year streak at Apple. Taiwanese research firm TrendForce today reported that the iPhone 16 Pro will start at $1,099 in the U.S. with 256GB of storage, whereas the iPhone 15 Pro starts at $999 with 128GB of storage. If this information is accurate, it means that the iPhone 16 Pro will cost more for customers who otherwise would have opted for a...
