Visa and Apple to Launch Joint Payment Service

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The launch of the new payment service is expected to take place this autumn already, just at the time of iPhone 6 premier. The service will be integrated into iOS8 and is to use existing iTunes accounts. Purchasing books, software and films through the Apple store is to become still easier, with all the required payment data entered automatically. Under the project, Visa will be responsible for payment transactions and anti-fraud protection.

Apple has long been talking about launching its own mobile payment system. In particular, it is supposed to use the iBeacon service and a fingerprint sensor. The iBeacon will allow keeping users informed about discounts and rebates, while the sensor will protect those from intruders.

According to Josh Beck, an analyst for Pacific Crest, Apple has been closely collaborating with Visa, using great many of its accounts, which provides for an opportunity to further expand the payment platform. The new payment system is to become a ‘Passbook on steroids.’

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