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Apple laying foundations for mobile payments service through Apple ID?

Apple reportedly laying foundations for mobile payments service through Apple ID
Apple could commandeer mobile payments on the iPhone

Apple is reportedly investigating the possibility of launching its own mobile payments service, which would allow iPhone and iPad users to pay for goods and services using their Apple ID accounts.

The Wall Street Journal reports Apple is looking at 'leveraging' the millions of credit card details its customers currently use to buy apps, games, movies, books, music and more, to launch a wider service.

According to the 'paper's sources, Apple CEO Tim Cook has placed its senior vice president of Internet Software and Service Eddy Cue in charge of getting the service up and running.

The report claims Apple is discussing the plan with other companies in the tech industry.

Look out, PayPal...

If it were to eventually come to fruition, iOS users, for example, could pay for their groceries using their mobile devices, charging the payment to their registered iTunes accounts.

Apple has been researching mobile payments for years, but a fully fledged service would see the company take on the likes of PayPal, Square and Google in the increasingly populated sector.

Would shopping with your Apple ID make things simpler for you? Let us know your thoughts in the comments below.

Via Engadget