Apple Deliberately Holding Back on Mobile Payment System

Last month, it unveiled a service called Passbook that pulls together loyalty cards, tickets and coupons. But Passbook, which Apple will release this fall, drew attention for what it doesn't do: It can't link directly to credit or debit cards, so consumers can't use it to replace their wallets.Holding back in mobile payments was a deliberate strategy, the result of deep discussion last year. Some Apple engineers argued for a more-aggressive approach that would integrate payments more directly.

SOURCE VIA