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

[MacRumors]

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.

The mobile payments area in general is one that we've been intrigued with. It was one of the thoughts behind Touch ID.

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

 

[Lapidus]

Didn't see that coming..

 

[Z400Racer37]

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.

 

[keysofanxiety]

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.

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

 

[Mousse]

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.

 

[citi]

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.

The same can be said about debit cards. If you are a spender, you will spend. If you are not, you won't.

 

[djplaxe2109]

Tim talks too much.

 

[viperGTS]

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.

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.

 

[bmunge]

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.

Do you have a credit card?

 

[osx11]

The same can be said about debit cards. If you are a spender, you will spend. If you are not, you won't.

I like the people who blame technology when, in reality, they have a spending and consumption problem.

 

[smulji]

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.

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.

 

[Mousse]

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.

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.

 

[ArtOfWarfare]

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...

 

[macduke]

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.

 

[goobot]

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.

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.

 

[Pakaku]

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.

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.

 

[petsounds]

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.

 

[gnasher729]

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.

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.

 

[OrangeSVTguy]

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.

 

[Gasu E.]

Ever let the Missus go shoe shopping alone with YOUR credit card? That's the fast track to the poor house, buddy.

Suffer on a shopping trip with the Missus to keep her spending in check.

What planet are you living on? Apparently not one with actual women.

 

[username:]

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.

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.

 

[a0me]

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.

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.

 

[John.B]

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.

Users are clamoring for mobile payments? Really?

Bring user profiles to the iPad, and identify users via Touch ID.

 

[Millah]

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.

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?

 

[patent10021]

This is very 2012 news.

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