WSJ: Apple mulls physical purchases via iTunes accounts | iLounge News

2014 iPad iPhone iPod Buyers' Guide from iLounge.com

News

WSJ: Apple mulls physical purchases via iTunes accounts

Author's pic

By Phil Dzikiy

News Editor, iLounge
Published: Monday, January 27, 2014
News Categories: Apple, iTunes

Apple is investigating the possibility of enabling users to pay for physical goods and services through their iTunes accounts, according to a recent Wall Street Journal report. Apple SVP Eddy Cue has reportedly met with industry executives on the matter. It’s also noted that Apple executive Jennifer Bailey, who ran Apple’s online stores, is now in a new role “to build a payment business within the technology giant.” A number of possibilities exist regarding how Apple could institute the system, which will no doubt leverage the hundreds of millions of credit cards currently linked to the iTunes Store; a recently discovered patent application revealed a method for making secure payments using two “air interfaces.” Still unknown is the per-transaction fee Apple expects to charge for the service; given common credit card transaction fees in the 3% range, some third-party vendors loudly balked at the 30% cut Apple demanded when in-app purchases were rolled out for the App Store and Newsstand.

« Apple: 80 percent iOS 7 adoption rate

Lunatik intros Lynk smart watch collection »

Related Stories

Comments

1

I’d be curious if an iTunes store balance (from gift cards) would be applied, or if it would only pull from CCs.

Posted by Jason on February 3, 2014 at 9:23 AM (PDT)

If you have a comment, news tip, advertising inquiry, or coverage request, a question about iPods/iPhones/iPad or accessories, or if you sell or market iPod/iPhone/iPad products or services, read iLounge's Comments + Questions policies before posting, and fully identify yourself if you do. We will delete comments containing advertising, astroturfing, trolling, personal attacks, offensive language, or other objectionable content, then ban and/or publicly identify violators.

Commenting is not available in this section entry.

Email:

Recent News

Recent Reviews

Recent Articles

Shop for Accessories: Cases, speakers, chargers, etc.