Apple reportedly ‘very, very serious’ about mobile payments

PayPal for iOS (Pay at Table)

Apple is ramping up internally to launch a mobile payments service, according to Recode. The publication reports Apple has been interviewing payment industry executives to fill two new senior positions at the company focused on mobile payments, as it plans to get into the industry.

The search team is being lead by Apple executive Jennifer Bailey, who previously ran the company’s online stores including iTunes. The two new positions are heads of product and business development, two positions that are at the core of any new product at Apple.

“Their ambitions are very, very serious,” one source is claimed to have said, highlighting that Apple is planning to go all in with the product.

There haven’t been a shortage of reports claiming that Apple is launching an iWallet-esque service. It’s just not clear when. Tim Cook, CEO of Apple, has even acknowledged the importance of the Touch ID technology introduced on the iPhone 5S and how it would play into the mobile payments service.

“The mobile payments area in general is one that we’ve been intrigued with,” Cook also said on the company’s last earnings call in January. He added that mobile payments could be a big opportunity for the company, but didn’t have any details to share.

Recode says Apple is looking at using the 600 million credit cards on file through iTunes to make it easier for shoppers to buy physical products in apps, the web using their iPhones, and physical retail stores.

Furthermore, Apple is said to be continuing talks with PayPal, who wants to be the core infrastructure of the mobile payments service. Square, who the Wall Street Journal had news on this morning, is also a potential acquisition target by Apple.

If you were doubting Apple is jumping in this space, think again.