Mobile payments were ‘one of the thoughts behind Touch ID’ says Tim Cook

Apple CEO Tim Cook says his company is intrigued by the mobile payments space, and that its interest there is one of the reasons for creating Touch ID. “The mobile payments area in general is one that we’ve been intrigued with,” Cook said on a conference call discussing Apple’s Q1 2014 earnings. “It was one of the thoughts behind Touch ID.”

During Apple’s earnings call today, CEO Tim Cook indicated that mobile payments were one of the driving forces behind the company’s decision to introduce Touch ID with the iPhone 5s. “The mobile payments area in general is one that we’ve been intrigued with. It was one of the thoughts behind Touch ID.” Cook went on to say that people love being able to buy digital content from their iPhones using Touch ID, because it’s “incredibly simple and easy and elegant.” He added that while Apple is not planning on limiting Touch ID to digital purchases, the company had nothing specific to announce today, mobile payments are an opportunity that Apple has been “intrigued with” and there is a “big opportunity on the platform.”