Apple is reportedly discussing mobile payments with major retailers

According to the rumors, Apple could be interested in entering the mobile payment market. Given that Apple has millions of credit card information on file, thanks to the number of users purchasing and downloading apps, movies, music, TV shows from the iTunes App Store, we guess the creation of a mobile payment service did make sense. That and the fact that the iPhone 5s comes with a fingerprint scanner that will help with authentication, well all of this just smells like a setup for a mobile payment service in the future. Now according to the folks at 9to5Mac, they claim that one of their sources has revealed to them that Apple is currently in talks with retail store chains about implementing some form of mobile payments service.

Apple wants to replace yet another daily tool with your iPhone: your wallet. Executives from the Cupertino-based technology company have begun discussions with directors from retail store chains about a mobile payments service, according to a source with direct knowledge of the talks. Previous reports indicated that Apple is exploring new payments services through discussions with executives from existing payments companies. These latest mobile payments-related discussions, which have occurred with retail store brands such as those that sell luxury clothing and premium goods, have taken place over the past couple of months, according to the source. The source declined to be named and requested that the identities of the companies talking to Apple not be published. The Apple mobile payments service would be integrated into iOS Devices such as the iPhone and would be a comprehensive solution that would allow an iPhone user to leverage their device as a form of payment in retail stores. Based on information from various people briefed on the matter, the service would tie directly to iTunes accounts.