Apple CEO Cook confirms Apple's interest in mobile payments

posted by Alan F.

Jan 28, 2014, 12:13 AM

Apple CEO Cook confirms Apple's interest in mobile payments

Just a few days ago, we passed along a report stating that Apple was working on a mobile payments system of its own, giving online store executive Jennifer Bailey the job of starting it up. Apple CEO Tim Cook's role during Monday's conference call with analysts was to answer the Q&A after the call. Fielding a question about mobile payments, Cook said that Apple has been intrigued with the business and in fact, it was one of the reasons why the TouchID fingerprint scanner was included on the Apple iPhone 5s.

Cook did say that he had nothing to announce on Monday, but came pretty darn close. He said that with the demographics of iOS users and with the amount of money that goes through the platform, mobile payments could be a big opportunity for Apple. Considering the report from last week, we'd say it is a good bet that Apple launches a mobile payments service soon.

"(Mobile payments) we've been intrigued with, and that was one of the thoughts behind Touch ID. So I don't have anything specific to announce today, but you can tell by looking at the demographics of our customers, and the amount of commerce that goes through iOS devices versus the competition, that it's a big opportunity for the platform."-Tim Cook, CEO, Apple

And we can't leave the subject of the conference call without talking about the iWatch hint given by Corporate Controller Luca Maestri. The executive said that Apple is investing "in areas that are not visible." When asked exactly what that meant, Cook said that Apple is "working on things that are not shipping today. Things you can't see today."
source: TechRadar

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16 Comments

15. NoFanboy

Posts: 300; Member since: Nov 18, 2013

Can't wait for Apple to take mobile payments seriously. Soon after it will be an industry norm

posted on Jan 28, 2014, 9:49 AM 1

9. darkkjedii

Posts: 31805; Member since: Feb 05, 2011

Now I see why touch ID is considered forward thinking. Get it in, get it perfected, get people used to working with it, then launch features that use it, and it'll now be second nature. Smart thinking apple...smart thinking indeed. Kudos...

posted on Jan 28, 2014, 7:14 AM 0

12. buccob

Posts: 2981; Member since: Jun 19, 2012

So why did they skip NFC? Are they making some kind of proprietary wireless payment instead?... (sincere curiosity, not trolling)

posted on Jan 28, 2014, 8:53 AM 1

13. darkkjedii

It could be getting ready to launch this year, you know they'll put their own spin on it. I think they've been prepping it all along, could be another reason they're making the phone bigger too. Also, I've never seen you troll. +1

posted on Jan 28, 2014, 8:56 AM 1

14. buccob

I forgot that iBeacon can indeed allow payments... so it could be an NFC competitor. So yeah Apple have always been good at making proprietary stuff trending...

posted on Jan 28, 2014, 9:01 AM 1

7. euklidis

Posts: 35; Member since: Oct 08, 2013

But we already knew that since 12th of September. They got iphone release date 2 times in a row and they seem to be confirmed once again about the next iphone translate.google.gr/translate?sl=el&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Ftechmaniacs.gr%2Fiphone-6-dates-new-technologies%2F&act=url

posted on Jan 28, 2014, 3:49 AM 0

4. bugsbunny00

Posts: 2267; Member since: Jun 07, 2013

cook: working something can't see today/and not shipping today ...now what would that be? iwatch?microwave? i know a dishwasher,..

posted on Jan 28, 2014, 2:28 AM 0

2. androiphone20

Posts: 1654; Member since: Jul 10, 2013

All the ground work has been set for a sound mobile payment system, we're just waiting for Tim's call now

posted on Jan 28, 2014, 12:43 AM 1

5. o0Exia0o

Posts: 903; Member since: Feb 01, 2013

Not to troll, Not to start a fight, But what do you base your statement "All the ground work has been set for a sound mobile payment system, we're just waiting for Tim's call now" off of? How would you propose that I would be able to walk in to McDonald’s, order a Big Mac and pay for it with my Iphone? I can see doing it with a phone equipped with NFC but the last time I checked that feature is lacking in the latest Iphone. I guess that you could do it with Bluetooth but it has a range of approximately 25 feet and I would not want to be transmitting personal data that far. Also I don’t know of too many places that would have something like Bluetooth set up for payments. Again I am not trying to start an argument I am just trying to understand.

posted on Jan 28, 2014, 2:35 AM 0

8. androiphone20

See, I'm going to ignore the fact that your question sounds like those "I'm not racist but..." memes. Apple has 500 million iphones and ipads to date and it has hundreds of millions of credit cards on file for its itunes store. If you have a 5S you can confirm a purchase using touch id, ibeacon can determine where you are in the store so Apple may tie those elements together and challenge companies like Paypal or square.

posted on Jan 28, 2014, 4:10 AM 1

11. darkkjedii

Awesome that you could easily see thru his post, and read between the lines. +1. As Cook said "we've got big plans for 2014" let 2014 progress.

posted on Jan 28, 2014, 7:17 AM 1

16. o0Exia0o

Since you went there then so shale I. Your response is something to be expected from a fanboy whom blindly follows an OS. I was asking because I am truly curious about how Apple would be able to take, process and issue payments on their Iphone line when they are not equipped with a system that would allow them to be used or read by traditional payment systems such as a cash register or a credit card reader. I have read articles on Ibeacon but I guess I still don't fully understand how it works. I was looking for enlightenment on the subject but all I found was a troll. So now that you have shown your ignorance and blind fanboyism all I have to say is STFU and go troll somewhere else. I'm done with you.