Apple has all the ingredients to cook up a massive mobile payment system

Apple may be gearing up to build its own proprietary mobile payment system. That’s according to a study titled “Mobile Payments, Blue Paper Revisit, EMV in Focus” from Morgan Stanley’s Research group in Europe. If Apple goes ahead and builds its own payment system, it would be a stroll down logic lane.
“It makes sense that they would. It would give them more control. Apple has more than 400 million credit cards on file just from iTunes alone. That gives them serious position to be in this space,” said the executive who declined to be named.
And besides, the executive added, at this time, Apple “doesn’t have an infrastructure in place for physical transactions.”