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Apple Interviewing Execs for New Payments Business

According to reports, Apple is interviewing senior executives in the payments industry to help create an electronic payments business.

It looks like Apple has been interviewing senior executives in the payments industry to help build an electronic payments business, according to Seeking Alpha.

According to reports, E-commerce chief Jennifer Bailey is said to be leading the initiative.

"Their ambitions are very, very serious," one source told Seeking Alpha.

There were reports earlier this year that Apple was "laying the groundwork" for a mobile payments push, albeit while leaving many questions unanswered about which type of transactions will be covered, and which payments technologies will be used.

Apple currently has 600 million iTunes accounts and most of them are linked with credit card accounts, according to Seeking Alpha. To help the payments initiative, as well as technologies such as fingerprint sensors and the iBeacon positioning platform. Android support would do a lot to extend the service's reach in markets where Google's OS dominates.

Re/code previously reported that PayPal is pitching Apple on offering white-label solutions for its payments effort. But sources are saying that it's unlikely Apple would have any need for them.


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