Apple’s Tim Cook Hints Touch ID Will Offer More Options for Mobile Payment

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Apple Inc. (NASDAQ:AAPL) CEO Tim Cook has all but outright confirmed that company plans to expand the Touch ID system, which debuted with the iPhone 5S model, into a payment system, AppleInsider reports. “The mobile payments area is generally one we’ve been intrigued with,” Cook said in a conference call with analysts today.

Apple may have originally introduced the Touch ID system as a way of making easier and more secure to unlock the iPhone, but the fact that the company also introduced the (optional) opportunity to make purchases in the company’s iTunes store suggests that perhaps Apple has always had mobile payments in mind for Touch ID.

Cook says that customers seem to be responding well to being able to make purchases so quickly and easily. “We’re seeing that people love being able to buy content, whether it’s music or movies or books, from their iPhone, using Touch ID,” Cook said in the conference call. Using Touch ID to verify purchases is “incredibly simple, easy, and elegant,” he added.

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