Apple to venture into mobile-payments business

Apple is reportedly planning to expand into a mobile-payments business. The company plans to move beyond the dominion of digital goods in order to pave way for users to pay for physical goods and services with an iTunes account.

Talks are on between Apple executive in charge of iTunes and the App Store and industry executives to discuss its foray into the mobile payment business, Cnet reported. Meanwhile, the company is reported to have shifted its long-time executive Jennifer Bailey, who has been running the company's online store, to take care of its payment business.