Apple puts its finger on mobile payments

Shoppers could soon be able to pay via a proprietary payment system on Apple (NASDAQ: AAPL) devices. According to The Wall Street Journal, Apple is building an internal team to address payments, while Touch ID fingerprint recognition in new iOS devices could speed the company's efforts.

Apple CEO Tim Cook stated during a conference call on Jan. 27, that people love to buy content using Touch ID, the fingerprint reader featured on the iPhone 5s. "Mobile payments in general is one [area] that we've been intrigued with, and that was one of the thoughts behind Touch ID," Cook said. "We're not limiting ourselves just to that."

Apple already handles payments made through its iTunes stores but this new interest would go beyond that to physical goods and services bought from other retailers via Apple devices. Consumers could conceivably order goods from mobile apps, book hotel rooms or order a taxi via car sharing service Uber, and pay with their iTunes account. Story