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January 27, 2014 AT 6:18 AM
The Wall Street Journal has learned, Apple is reportedly developing its own wireless payment service for mobile devices, eyeing a piece of a growing business. According to Forrester Research, Americans are expected to spend $90 billion through mobile payments by 2017, up significantly from $12.8 billion in 2012. Sources familiar with the matter have said that Apple’s iTunes and App Store chief Eddy Cue has met with industry executives, to talk about how Apple would handle payments for goods and services from its mobile devices. Moreover, Apple’s Jennifer Bailey, who was running the company’s online stores, has been moved into a new, unconfirmed, role to build a payment business for the company.