Apple reportedly looking to expand mobile payments capabilities

Apple (NASDAQ:AAPL) is looking to expand its presence in the mobile payments market, according to multiple reports. The Wall Street Journal and Bloomberg, which both cited unnamed sources, reported Apple is laying the groundwork for a system in which an iPhone could potentially be used as a new digital credit card. Apple has more than 400 million credit cards on file with its iTunes Store. The reports said the initiative is being led by Eddy Cue, chief of the iTunes and App Store and head of Apple's online services, and he is looking for help from Apple executive Jennifer Bailey, a longtime executive who was formerly running Apple's online stores. Apple declined to comment, according to the Journal.

Meanwhile, AT&T Mobility (NYSE:T) and Incipio announced on Friday the availability of the Cashwrap, a case for the iPhone that includes a secure Near Field Communications chip and can be used to make mobile payments via the Isis mobile payments network. The case is compatible with the iPhone 4, 4S, 5 and 5s. Article