updated 05:15 pm EDT, Mon April 21, 2014
Plans described as 'very, very serious'
Apple has been conducting interviews of senior payment industry executives in a bid to build up a mobile payment platform, sources say. The company is allegedly talking to candidates for two positions, one as head of product and another as head of business development. Apple's e-commerce chief, Jennifer Bailey, is indicated to be spearheading payment system efforts and meeting with the candidates in question. "Their [Apple's] ambitions are very, very serious," one of the sources comments.
In terms of substance, Apple is said to be testing ways for people to buy physical products on an iPhone via apps and the web. This would involve linking charges to a person's iTunes account, much like Google Wallet allows Android phone owners to buy things at retail.
One source adds that rumored talks between Apple and PayPal were ongoing as recently as March. Whether talks are still ongoing is unknown. Regardless, the sources say that Apple is now committed to developing a mobile payment system, even if the technology is still in its formative stages.