PayPal wants to partner with Apple on mobile payments

PayPal wants to partner with Apple on mobile payments
Apple has been very open about the fact that it wants to be the number one provider of mobile payment systems. It has already developed iBeacon, which has the potential to revolutionize in-store shopping in ways that we haven't fully tapped yet. And, TouchID on the iPhone has great potential for allowing secure payments from your mobile device; so, it's not surprising to find that PayPal wants in on the action. 

PayPal has been one of the better options as far as mobile payment systems for a while now; and, a new report is saying that PayPal has been inquiring with Apple about a partnership. The interesting part of it all is that PayPal has apparently been suggesting that it could handle the background systems, even if it doesn't get any credit for the work. It just wants a piece of the action. Sources say that PayPal has offered to work on a number of features including fraud detection, backend infrastructure, and payment processing, while leaving the branding of the whole system to Apple. 

Of course, those same sources say that it is fairly unlikely that Apple would agree to work with PayPal, as Apple tends to prefer working solo whenever possible. But, the report definitely proves that Apple has something interesting in the works. Even with the reasonable assumption that the payment system would be iOS only, and considering that the U.S. and Japan are the only regions where the iPhone has a relatively large market share, there is obviously a lot of value in what Apple is planning.

source: Re/code

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9 Comments

1. ajac09

Posts: 1482; Member since: Sep 30, 2009

2 evils working together?

2. Finalflash

Posts: 4063; Member since: Jul 23, 2013

No no, that is the hallmark of evil villains, they never cooperate. Their goals may be the same once in a while, but they don't work together on getting there, they even screw each other on the way. Apple will likely go solo on this instead of working with paypal most likely.

3. PAPINYC

Posts: 2315; Member since: Jul 30, 2011

If PayPal partners with Lucifer I shall close my PayPal account faster than you can say Shazaam!! There's no way I'd worship Mephistopheles by contributing one iPenny!

8. stealthd unregistered

So, how's 7th grade treating you?

4. mottykels

Posts: 387; Member since: May 15, 2013

Well, thats good since i always use paypal on my all online transaction :)

5. Sauce unregistered

Other than the hatred I'm reading, this seems highly interesting. Touch ID (that is fast, accurate, and convenient) and PayPal, the leader in online secure payment. Looks good. Not to mention Apple's future of online payment. In Borats voice, Verrry niiice.

6. nothingmuch

Posts: 201; Member since: May 03, 2013

Transaction fees are going to go up up UP!

7. jphillips63

Posts: 253; Member since: Jan 04, 2012

And if you buy or sell anything gun related and paypal finds out they keep your money.

9. mixedfish

Posts: 1555; Member since: Nov 17, 2013

Paypal: a fraudsters best friend.

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