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Apple planning to launch PayPal rival: Report

New Delhi: Cupertino-based Apple is considering launching a mobile-payments service for its iPhone and iPad, to rival PayPal, The Wall Street Journal said.The newspaper, citing sources familiar with the matter, said Eddy Cue, Apple's iTunes
India TV News Desk January 25, 2014 20:24 IST
India TV News Desk
New Delhi: Cupertino-based Apple is considering launching a mobile-payments service for its iPhone and iPad, to rival PayPal, The Wall Street Journal said.

The newspaper, citing sources familiar with the matter, said Eddy Cue, Apple's iTunes and App Store chief, "has met with industry executives to discuss Apple's interest in handling payments for physical goods and services on its devices."

Already, iTunes is a big sources of online purchase as scores of consumers buy mobile applications using their iTunes account. Apple could use the fingerprint reader on its latest model, the iPhone 5S, to limit fraud.