Apple CEO Tim Cook 'intrigued' by mobile payment space

29 January 2014

Apple chief executive Tim Cook has revealed he is "intrigued" by the mobile payments space.

The US Cupertino-based company has yet to venture into contactless payments, but rumours suggest that the coming iPhone6 smartphone from Apple will give users the ability to pay for goods by pressing their phone to a contactless Point-of-Sale (PoS) terminal.

Speaking about the Touch ID sensor found the previous iPhone 5S launch , which followed the earlier 5 launch, during the company's Q1 2014 earnings call this week, Cook said that consumers have been enjoying using the biometric feature to buy content through the Apple Store with a touch of their finger. 

He added that mobile payments could be a big opportunity for the company in the future, but refused to go into any specific m-payment or near field communication (NFC) technology Apple is working on at the moment, or indeed mobile digital wallet development work. 

His comments at the earnings call came just days after a 'Wall Street Journal' report indicated Apple is working on a mobile payments service to rival Google Wallet, PayPal and other companies operating in the market. 

The earnings call saw a disappointing report from Apple, which left its shares down more than eight per cent on the back of good, but not stellar, iPhone and iPad recent sales figures.  

By Claire Archer 

 

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development