PayPal Looking to Partner Up with Apple for Mobile Payments – Report

eBay-owned payments processor has been pitching Apple on lending a hand

By on January 31st, 2014 12:45 GMT

Apple is said to be taking on mobile payments, and PayPal wants to be a part of this plan before the Cupertino giant becomes its rival.

This is what sources who have spoken to contacts at both Apple and PayPal claim, according to Re/Code.

“Three payments industry executives tell Re/code that eBay-owned PayPal has been pitching Apple on helping the consumer electronics maker bring its long-rumored payments initiative to fruition [...] PayPal is essentially willing to white label parts of its payment service to be used in an Apple mobile payments system — anything from fraud detection to back-end infrastructure, even possibly down to the processing of payments.”

Apple has more than 600 million iTunes accounts on file, all tied to credit cards. These sources added that “Apple is finally committed to having iPhones play a central role in the purchasing of goods at brick and mortar stores...” The only question that remains unanswered is “how?”

Perhaps iPhone 6 will be the first iPhone to sport Near Field Communication technology, or NFC.
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