Rumor: Apple wants to enable payment with iPhone

Apple plans to facilitate mobile payments in the real world, according to a US business newspaper. Customers would then be able to pay with their iPhone. Competitor Google has been offering such a service for some time.

Apple has not officially released any plans to support mobile payments, but anonymous sources have revealed the plans to business newspaper The Wall Street Journal. That newspaper is often the first to report on Apple’s plans for the future. The payment service could be integrated with iTunes, in which Apple has already stored a lot of customer payment data.

The Cupertino company is said to be in talks about introducing a mobile payment service and has put a key executive on the project. It is unclear how concrete the plans are. In 2012, the WSJ also reported that Apple wanted to offer mobile payments. At the time, the plans were said to have been shelved because Apple feared that bad experiences with a retailer could be traced back to Apple.

By supporting mobile payments, Apple would compete with PayPal and Square, a company founded by one of the founders of Twitter, but also with Google. Unlike most high-end Android phones, iPhones do not have NFC, which is used by Google, among others, for mobile payments. The iPhone does have support for iBeacons on board, which works via bluetooth low energy.