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January 28, 2014updated 04 Apr 2017 4:09pm

Apple plans to expand mobile-payments service: Reports

Apple is, reportedly, planning to expand its mobile-payments service by launching a mobile wallet service for iPhone and iPad users.

By Verdict Staff

Apple is, reportedly, planning to expand its mobile-payments service by launching a mobile wallet service for iPhone and iPad users.

Sources familiar with the matter were quoted by The Wall Street Journal as saying that Apple iTunes and App Store chief Eddy Cue was in discussions with technology industry executives regarding handling payments for physical goods and services on its devices.

As part of the expansion, Apple has relocated Jennifer Bailey, an executive in its online stores, to take over a new role to develop a payment business within the technology giant.

Currently, Apple customers can purchase apps and pay for items such as digital goods within an app using an iTunes account.

Additionally, Apple has launched new technologies for paying through an iPhone, including a fingerprint reader for security and an iBeacon location-sensor.

Recently, Apple has applied for a patent covering payments for goods through a signal sent from a phone to a wireless receiver.

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