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Apple working towards touch based mobile payment system

Posted January 28, 2014

Tim Cook

Apple CEO Tim Cook has revealed the real purpose behind its Touch ID fingerprint sensor implementation in iPhones. Discussing Apple’s Q1 2014 earnings on a conference call Cook said his company is interested behind mobile payments space and it was one of the thoughts behind Touch ID.

Cook said that Apple has seen great response from customers to buying music, movies, and books using the iPhone’s Touch ID fingerprint sensor, and that “It’s clear that there’s a lot of opportunity there.”  It has been reported that Apple has begun building up mobile payment division although not much is known about this.  The Touch ID fingerprint sensor already includes a basic mobile payments feature: the ability to pay for products on the iTunes and App Store without entering an account password. Cook also said that Apple doesn’t intend to limit Touch ID’s use to just mobile payments.


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