According to the report, Apple has been meeting with applicants for two new positions that would focus on building a mobile payments system using credit cards stored in iTunes. These positions include a head of product and head of business development.
This initiative into mobile payments is being headed up by Apple’s former online retail chief Jennifer Bailey, who has been moved from retail and into this new mobile payments push.
Using those payment accounts as a foundation, the company is evaluating ways to make it easier for shoppers to buy physical products in apps and on the Web using their iPhones. The company is also considering how it might best help its customers make purchases in physical retail stores using only their phones and payment information stored in their iTunes accounts.
“Their ambitions are very, very serious,” one of the sources told Re/Code.
PayPal was rumored to be in talks with Apple about a potential partnership. Details on the discussion and what the type of partnership PayPal was proposing is not yet known.
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Related Topics: Apple Rumors