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Rumors of an Apple-made mobile payments solution have been swirling for some time now, but so far we've yet to see any evidence to show that the Cupertino firm is actually close to offering such a service. That could change soon, though, as a new report claims that Apple is hard at work on the groundwork of a mobile payment service.

Sources speaking to The Wall Street Journal say that Eddy Cue, Apple's SVP of Internet Software and Services, has been busy meeting with other executives to discuss Apple's interest in enabling its devices to be used to pay for goods and services. The publication goes on to say that Apple recently promoted Jennifer Bailey, an exec that was previously in charge of its online shops, to a new job focused on building a mobile payment business.

Using your phone to pay for physical goods isn't a new concept, as solutions like Google Wallet have existed for a couple of years now. So far we've yet to really see mobile payments gain a significant amount of traction, but the functionality has slowly been gaining acceptance with consumers.

Rumors suggested that Apple was investigating mobile payments that would be made over Bluetooth or NFC back in mid-2012, but it was said that the company had security and battery life concerns regarding the technologies. It sounds like the company may have found a solution that it's comfortable pursuing, though, and with 575 million registered iTunes users, Apple could have a significant impact on the mobile payments arena if it chooses to actually enter it.

Is paying for goods and services with your phone something that interests you?

Via The Wall Street Journal


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