BARCELONA – Apple is unlikely to jump into the mobile payments market at the physical point of sale, as PayPal is doing–there’s not enough profit in it for Apple, contends the head of the PayPal Mobile unit.
David Marcus, vice president of PayPal Mobile, speaking during a panel discussion at this week’s Mobile World Congress in Barcelona, was asked if he saw Apple making a run at offline payments using its massive iTunes account base, as PayPal is attempting to do with its base of 106 million users.
Marcus responded that many other very large companies have “failed miserably” when they tried to launch a new payment scheme.