Apple to Build Mobile-Payments Service, Report Says

Apple is preparing to expand its presence in the mobile-payment space, according to a new report.

Eddy Cue, the company's senior vice-president of Internet software and services, has met with "industry executives" to discuss Apple's role in handling payments for physical goods and services, The Wall Street Journal reported.

WSJ also said Jennifer Bailey has been promoted from her role running Apple's online store to a new position focused on building a payment business.

The mobile-payments space is hot, with companies such as Square, PayPal and Stripe all working to make it easier for users to pay for physical goods with their phones. Read more...