toggle

AAPL Stock: 113.29 ( 0 )

Printed from http://www.macnn.com

Apple execs said to be talking to retail chains about mobile payments

updated 11:33 am EDT, Fri May 30, 2014

No service in near future, sources hint

During the past two months, Apple executives have been talking with retail chain directors about the company's rumored mobile payment service, a source claims. While the person has refused to publicly identify himself or the specific chains involved, the retailers are said to include vendors of luxury goods like high-end clothing. The service in question is expected to be integrated into iOS devices and let people pay with an iTunes account instead of cash, checks, or credit.

The talks are said to be addressing topics like building a single service that can integrated into a variety of retail stores, since every business has its own transaction needs. Indeed, third-party mobile payment services like Square and PayPal have had to regularly update their apps and infrastructure to accommodate different transaction schemes.

Apple is believed to be in the middle of a research and development phase, exploring what retailers need and want. The company is also reportedly asking retailers to survey customers about whether they'd like to pay for goods with phones or other devices.

Several sources suggest that because Apple is in an exploratory mode, it doesn't seem as if the payment service will launch in the near future. Apple is however believed to be developing the technology internally, with the help of new and existing executives.

Rather than relying on NFC, like Isis or Google Wallet, Apple's system could be based on iBeacons. These might have the advantage of supporting more iOS devices -- since the iBeacon platform is based on Bluetooth Low Energy -- and not requiring people to "bump" their device to authorize payment.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

Wren V5US Wireless Sound System

If you're a music fanatic, chances are you are, by extension, a bit fanatical about what you listen to your music on. If you're like ...

toggle

Most Commented