Apple considers own payment service

Apple considers own payment service

According to several sources, Apple is in talks with several large retail chains to develop an iPhone payment service, which would be integrated into its operating system.

Large number of users

According to 9to5mac.com's sources, Apple has talked to several retailers catering to the higher segments about mobile payments. In Apple's mind, the service would be directly linked to iTunes accounts.

 

Currently, there are some 800 million accounts with credit cards attached to them and Apple could use these numbers to convince retailers to use its payment service. The new iPhones would also have fingerprint recognition, which could also be used to carry out mobile payments.

 

Not for the near future

Apple is also trying to convince retailers to use iBeacons, which connect to Apple appliances and are already in use at several Apple Stores.

 

According to sources, talks about mobile payments and iBeacons have not passed its initial stage, which makes it unlikely we will see Apple's mobile payment service anytime soon.

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