Apple creating it’s own payment system soon
The Californian outfit is said to be working on a new payment portal (like PayPal) which will be built around the teaming number of iPhone and iPad users who account for millions of transactions every single day.
Apple’s own iTunes, which is where users can download apps, books, music and other software is where Apple can start from, as iOS users cannot do with it, literally. “Apple is absolutely the sleeping giant in the payments world. They have the capability; they just haven’t tied it all together.” Denee Carrington, an analyst from Forrester Research commented.
If we are to go with what the report says, then Apple is safe to say, on the right track. The best player in the online payment portal business, PayPal is expected to hype increase in mobile payments from $12.8 billion in 2012 to $90 billion by 2017, thanks to Liberty Reserve, it’s biggest competitor, being shut down by feds on money laundering charges.