Tim Cook: Mobile Payments 'One of the Thoughts' Behind Touch ID

Discussion in 'MacRumors.com News Discussion' started by MacRumors, Jan 27, 2014.

  1. macrumors bot


    Apr 12, 2001

    During Apple's earnings call today, CEO Tim Cook indicated that mobile payments were one of the driving forces behind the company's decision to introduce Touch ID with the iPhone 5s.
    Cook went on to say that people love being able to buy digital content from their iPhones using Touch ID, because it's "incredibly simple and easy and elegant."

    He added that while Apple is not planning on limiting Touch ID to digital purchases, the company had nothing specific to announce today, mobile payments are an opportunity that Apple has been "intrigued with" and there is a "big opportunity on the platform."

    Tim Cook's comments on mobile payments follow a report last week that suggested Apple is currently working on developing a new mobile payment service that will allow the company to handle payments for physical goods and services in the future.

    While Apple currently limits iTunes account holders to using their stored credit card information for purchases on Apple's online and retail stores through the Apple Store app, iTunes, and the App Store, stored information could be used in the future for other types of payments with Touch ID technology used to speed up and authenticate real world purchases.

    Article Link: Tim Cook: Mobile Payments 'One of the Thoughts' Behind Touch ID
  2. macrumors regular


    May 14, 2012
  3. macrumors 6502a

    Feb 7, 2011
    Its about freaking time, how about a TV that doesn't suck that crushes Xbox and PS4, and implements a better, more streamlined Youtube-like platform for user generated content while you're at it? Getting a little tired of defending single digit growth over here... Thanks.
  4. macrumors 68030


    Nov 23, 2011
    I see you've had your morning glass of prune juice. Just relax, Apple will release whatever they need to when it's ready.
  5. macrumors 65816


    Apr 7, 2008
    Flea Bottom, King's Landing
    I ain't touch the Touch ID feature with a ten foot pole, buddy. I don't like the idea of impulse buying, which is why I disable in app purchases as a matter of course. We're gonna see a lot of people spending money they don't have because pay this way is just a but of bits flying around. You don't see your hard earned cash leaving your wallet.
  6. macrumors 65816


    May 2, 2006
    Simi Valley, CA
    The same can be said about debit cards. If you are a spender, you will spend. If you are not, you won't.
  7. macrumors 6502

    Feb 4, 2013
  8. macrumors 65816

    Nov 15, 2010
    Impulse buying is Apple's fault how?

    You shouldn't bash Touch ID for what is essentially the user's fault. Maybe they should have some responsibility.
  9. macrumors regular

    Mar 7, 2012
    Do you have a credit card?
  10. macrumors 6502a

    Jan 16, 2011
    I like the people who blame technology when, in reality, they have a spending and consumption problem. :cool:
  11. macrumors 6502

    Feb 21, 2011
    People that can't manage their finances / spending isn't Apple's problem same way it isn't McDonald's problem if you get fat by eating at their restaurants.
  12. Mousse, Jan 27, 2014
    Last edited by a moderator: Jan 28, 2014

    macrumors 65816


    Apr 7, 2008
    Flea Bottom, King's Landing
    Who said anything about impulse buying being Apple's fault? Credit cards, on-line payments, the speedy pass payment all makes it easier to impulse buy. You have kids? You'll know the kind of financial headaches they can cause if you don't lock down the their devices to prevent in app purchases. Ever let the Missus go shoe shopping alone with YOUR credit card? That's the fast track to the poor house, buddy.

    Touch ID is the first thing I would disable. THAT is taking responsibility. Disabling in app purchasing. THAT is taking responsibility. Suffer on a shopping trip with the Missus to keep her spending in check. THAT, my friend, is what it takes to be a man.
  13. macrumors 604


    Nov 26, 2007
    Looking forward to the day that my wallet can hold nothing but cash (and maybe a few IDs)... I'll have digital credit cards, gift cards and membership cards on my phone instead.

    Unfortunately, not many companies are offering anything via passbook...
  14. macrumors 601


    Jun 27, 2007
    Central U.S.
    It's kind of a big deal that he admitted to that. On the one hand, it's kind of obvious. But on the other hand, Apple doesn't really talk about their plans like this. Apple has the potential to make an incredible amount of money from this. More importantly, Apple customers can benefit from a secure payment platform that is incredibly easy to use. I hope Apple invests a lot of money in spreading the use of iBeacons as they are more secure than NFC, have better range, and beyond helping people find things in stores they can be used to buy things. I can't wait until the day that I no longer need to carry a wallet and keys.
  15. goobot, Jan 27, 2014
    Last edited by a moderator: Jan 28, 2014

    macrumors 601


    Jun 26, 2009
    long island NY
    Touch ID shopping if anything would do the reverse. Your wife or kids wouldn't be able to access it without your finger not to mention you wouldn't have a CC or DC to loose/get stolen.
  16. Pakaku, Jan 27, 2014
    Last edited by a moderator: Jan 28, 2014

    macrumors 65816


    Aug 29, 2009
    I just have to say, this whole "missus" thing sounds really... I don't know. Chauvanistic? Whatever putting your wife on the same level as your kids equates to.

    I also don't understand how TouchID = giving your card out to someone else.
  17. macrumors 65816

    Jun 30, 2007
    If Apple's impetus for Touch ID was actually encouraging people to buy stuff, and not just concern for user security and convenience, then they should probably fix the @#$#-ing problems with it, as some of us can't even use Touch ID because it loses our fingerprints.
  18. macrumors G5


    Nov 25, 2005
    You mean chauvinistic? Well, my wife doesn't need my card to get at the money in our bank account. And the kids - if they touch my cards I'll cut their fingers off.
  19. macrumors 601


    Sep 16, 2007
    Northeastern Ohio
    I always thought of a credit card type of payment that used a fingerprint instead of a signature to authorize payment. At least in a real store anyways.

    But something like this will have to be authorized through iTunes Wallet or whatever it would be called when your credit or debit is linked to your iTunes account.
  20. macrumors 68040

    Gasu E.

    Mar 20, 2004
    Not far from Boston, MA.
    What planet are you living on? Apparently not one with actual women.
  21. username:, Jan 27, 2014
    Last edited by a moderator: Jan 28, 2014

    macrumors 6502

    Dec 16, 2013
    I agree.

    Don't even bother with banks. Store all your cash in the freezer, and also fry your fingerprints off, the missus might chop your fingers in your sleep and use them to buy jewelz and lipstick.
  22. macrumors 6502a


    Oct 5, 2006
    Tokyo, Japan
    Using Touch ID doesn't automagically re-enable in-app purchases or even require you to enter your credit card information in the first place.
    I've enabled Touch ID for iTunes and the App Store from day one but the in-app purchase option is still turned off and I still only use iTunes gift cards and my common sense for all my purchases.
  23. macrumors 68040


    Jan 15, 2008
    Holocene Epoch
    Users are clamoring for mobile payments? Really? :rolleyes:

    Bring user profiles to the iPad, and identify users via Touch ID.
  24. Millah, Jan 27, 2014
    Last edited by a moderator: Jan 28, 2014

    macrumors 6502a

    Aug 6, 2008
    I would never leave a loaded iTunes account logged in to a device meant for a child. First thing I would do is always log out, and if the child ever wants to purchase something the account would need to be logged in.

    Why oh why do parents leave their accounts WITH credit cards logged in on a child's device, and hand it to them completely oblivious to that fact?
  25. macrumors 68020


    Apr 23, 2004
    This is very 2012 news.

    The second they rejected a crypto coin wallet it was easily apparent what their plans were.

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