Apple May Move Into Mobile Payments

apple payment
Apple is mulling to launch a mobile-payments service for its iPhone and iPad, which would compete with major players such as PayPal, if reports are to be believed.

Apple manages purchases of digital content in its online store iTunes. Consumers can also buy mobile applications using their iTunes account, meaning the company already has hundreds of millions of credit cards on file.

Apple could use the fingerprint reader on its latest model, the iPhone 5s, to limit fraud.

The company last year said it had 575 million registered users with its iTunes store and has sold 375 million iPhones over the last five years and 155 million iPads since its launch in 2010.

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