PayPal Worried About Apple’s Payment Method, Attempts To Stike Partnership

Having recent news reveal Apple’s initiative to extent into the mobile payment system, it seems that PayPal was not ignorant to the extensive plans of the iPhone maker giant. PayPal wants a part in Cupertino’s project, according to news from Re/Code.

Sources from Re/Code state that Apple is capable of releasing a mobile payment system without PayPal’s help, but they could not rule out the possibility of some type of partnership between the two companies. Apple is allegedly focusing on the iPhone for its mobile payment system, though details on how the phone will process payments is not known.

Having looking for clues, we see that recent patents point to iBeacon, having recent changes point to the use of NFC and Bluetooth. Apple recently deployed iBeacons throughout its retail chain of stores, while retailers like American Eagle and Safeway are experimenting with the technology in limited trials.

Looking at the big picture, it all adds together, having Eddie Cue meeting a while ago with industry executives “to discuss Apple’s interest in handling payments for physical goods and services on its devices.” and Tim Cook’s confession during the earning conference call that the mobile payment area was “one of the thoughts behind Touch ID” in the iPhone 5s.

Thank you Macrumors for providing us with this information