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Apple Plans Device Pay System

Apple Plans Device Pay SystemPayPal’s shares took a dive on the news, even though
it’s unclear if any of the banks have yet struck an agreement with Apple.

The Apple service would allow consumers to pay bills using their Apple devices
at point-of-sale. It is expected to be linked to the Apple Pay system, which
allows customers to make credit-card and debit-card payments with their mobile
phones. The company is apparently hoping to launch the service in the US next
year.

– Separately, Apple says it is opposed to a new British law that would require
it to provide authorities with access to encrypted data. It is concerned it
would create vulnerabilities that could be exploited by hackers.