Apple reportedly in talks to launch mobile payment solution

4 August 2014FinanceiOS

Juli Clover, writing for MacRumors:

Apple’s talks with companies in the payment industry have been heating up in recent months, according to a new report from The Information. Apple executives have discussed launching a mobile payment solution as soon as this fall, allowing users to pay for physical goods with their iPhones.

I would appreciate the ability to make purchases by authorizing payments with the Touch ID on an iPhone. Even more exciting would be automatically receiving electronic receipts once the transactions are complete.

One question though: if I’m in a checkout line with five other customers, how does the cashier send a particular payment request to a particular iPhone? The payment process needs to be at least as fast as a traditional credit/debit card transaction, so asking for an e-mail address is a non-starter. It will be interesting to see what – if anything – Apple comes up with.