Apple Inching Closer to Mobile Payments?

Jan. 27, 2014

Apple Inching Closer to Mobile Payments? A Wall Street Journal report published late Friday said Apple has made a personnel move suggesting a mobile payments initiative could be coming soon from the Cupertino computing giant. The company, which recently filed for patents relating to contactless payments, has long been considered a payments powerhouse in waiting with more than half a billion iTunes accounts, most with credit-card numbers on file.

The report indicated iTunes exec Eddy Cue has met with numerous payments industry insiders and Jennifer Bailey, a veteran Apple executive in charge of its online stores, has been tasked with building a payments unit, though neither Bailey nor Apple commented.

What technology an Apple mobile payments solution would rely on is still unclear. The company has resisted adding support for NFC to its iPhones. The patent application filed earlier this month would allow for NFC, but also suggests transactions could be transmitted using Bluetooth.