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

applestore.pngDuring 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.

Related Roundup: Apple Pay

Popular Stories

Generic iOS 19 Feature Mock Light

iOS 19 Leak Reveals All-New Design

Friday January 17, 2025 2:42 pm PST by
iOS 19 is still around six months away from being announced, but a new leak has allegedly revealed a completely redesigned Camera app. Based on footage it obtained, YouTube channel Front Page Tech shared a video showing what the new Camera app will apparently look like, with the key change being translucent menus for camera controls. Overall, the design of these menus looks similar to...
2024 App Store Awards

Apple Explains Why It Removed TikTok From the App Store in the U.S.

Sunday January 19, 2025 6:58 am PST by
Apple on late Saturday removed TikTok from the App Store in the U.S., and it has now explained why it was required to take this action. Last year, the U.S. passed a law that required Chinese company ByteDance to divest its ownership of TikTok due to potential national security risks, or else the platform would be banned. That law went into effect today, and companies like Apple and Google...
2024 iPhone Boxes Feature

Apple Changes Trade-In Values for iPhones, iPads, Macs, and More

Thursday January 16, 2025 6:45 am PST by
Apple today adjusted estimated trade-in values for select iPhone, iPad, Mac, and Apple Watch models in the U.S., according to its website. Some values increased, while others decreased. The changes were not too significant, with most values rising or dropping by $5 to $50. We have outlined some examples below: Device New Value Old Value iPhone 15 Pro Max Up to $630 U ...
Generic iOS 18

Everything New in iOS 18.3 Beta 3

Thursday January 16, 2025 12:39 pm PST by
Apple provided the third beta of iOS 18.3 to developers today, and while the betas have so far been light on new features, the third beta makes some major changes to Notification Summaries and also tweaks a few other features. Notification Summary Changes Apple made multiple changes to Notification Summaries in response to complaints about inaccurate summaries of news headlines. For...
iOS 19 Roundup Feature

iOS 19 Rumored to Be Compatible With These iPhones

Saturday January 18, 2025 10:28 am PST by
iOS 19 will not drop support for any iPhone models, according to French website iPhoneSoft.fr. The report cited a source who said iOS 19 will be compatible with any iPhone that can run iOS 18, which would mean the following models: iPhone 16 iPhone 16 Plus iPhone 16 Pro iPhone 16 Pro Max iPhone 15 iPhone 15 Plus iPhone 15 Pro iPhone 15 Pro Max iPhone 14 iPhon...
airtag 4 pack blue

AirTag 2 Launching This Year With These 3 New Features

Sunday January 19, 2025 8:11 am PST by
After a four-year wait, a new AirTag is finally expected to launch in 2025. Below, we recap rumored upgrades for the accessory. A few months ago, Bloomberg's Mark Gurman said Apple was aiming to release the AirTag 2 around the middle of 2025. While he did not offer a more specific timeframe, that means the AirTag 2 could be announced by the end of June. The original AirTag was announced...
iPad Pro vs iPhone 17 Air Feature

Here's How Thin the iPhone 17 Air Might Be

Friday January 17, 2025 3:38 pm PST by
For the last several months, we've been hearing rumors about a redesigned version of the iPhone 17 that Apple might call the iPhone 17 "Air," or something along those lines. It's going to replace the iPhone 17 Plus as Apple's fourth iPhone option, and it will be offered alongside the iPhone 17, iPhone 17 Pro, and iPhone 17 Pro Max. We know the iPhone 17 Air is going to be super slim, but...
iPhone SE Dynamic Island Majin Bu

iPhone SE 4 Leak Shows Dynamic Island, Casts Doubt on Rumored 'iPhone 16E' Name

Monday January 20, 2025 9:01 am PST by
A new iPhone SE is widely rumored to launch this year, and the device has potentially been confirmed today by known leaker Evan Blass. In a private social media post, Blass shared an image of what appears to be source code mentioning an iPhone SE (4th Gen), which casts doubt on the alternative "iPhone 16E" name rumored for the device. However, the name in the source code could be a...

Top Rated Comments

citi Avatar
143 months ago
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.
Score: 10 Votes (Like | Disagree)
osx11 Avatar
143 months ago
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. :cool:
Score: 4 Votes (Like | Disagree)
bmunge Avatar
143 months ago
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?
Score: 4 Votes (Like | Disagree)
Pakaku Avatar
143 months ago
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.
Score: 3 Votes (Like | Disagree)
keysofanxiety Avatar
143 months ago
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.
Score: 3 Votes (Like | Disagree)
Lapidus Avatar
143 months ago
Didn't see that coming..
Score: 3 Votes (Like | Disagree)