PayPal for iOS (Order Ahead)

In a last-minute scoop, Bank Innovation reports that it has learned that both Square and PayPal have been working with Apple on its mobile payment solution. Sources tell the site that both companies have been aware of Apple’s so-called ‘iWallet’ payments initiative for a while now, and are updating their services to support it.

How would this work? On Square’s side, it is getting ready to update its terminals to support EMV (Europay MasterCard Visa), and Bank Innovation says that it is also adding in support for NFC, Bluetooth LE and “other technologies.” As for PayPal, the site says it could be brought in to help Apple with a one-click online checkout.

If legitimate, the news would be very interesting, as many believed that both Square and PayPal would be negatively affected by Apple’s entry—with its nearly 1 billion credit cards on file—into the mobile payment space. A partnership like this, however, would actually be a good thing for all three companies, as each has its own strength.

We’re now just a little over an hour away from Apple’s ‘historic’ iPhone event, where it is expected to unveil its new mobile payment service. The company is said to have already signed on a number of major partners for the project, including 3 of the 4 big credit card providers, various retailers, and several major financial institutions.

[Bank Innovation]

  • Gate

    Aw man, Cody, paying for deals is going to be so much easier :^)

    Anyway, maybe we’ll see the mobile payment system in action inside the ‘ white box’.

  • Jose Gonzalez

    Website updated again, now has a feed going on live. #Apple Live

  • justme

    Today, Google should put the iWatch on his doodle 😀
    just sayin…

  • Rowan09

    1 more minute!!!! I had to say that, later.

    • Kurt

      You getting the Chinese dubbed version also?

      • Rowan09

        Yes at firs I was but it got better later.