PayPal not lying down in face of Apple mobile payments plan, instead bends over

Jason Del Rey for Re/code:

Three payments industry executives tell Re/code that eBay-owned PayPal has been pitching Apple on helping the consumer electronics maker bring its long-rumored payments initiative to fruition. These people, who have spoken to contacts at both Apple and PayPal, say that PayPal is essentially willing to white-label parts of its payment service to be used in an Apple mobile payments system — anything from fraud detection to back-end infrastructure, even possibly down to the processing of payments.

Two of these people said it’s unlikely Apple would find any need to link up with PayPal, though they would not rule out the possibility. link

This per the story this story last week and Tim Cook’s all but “we are doing this” proclamation during Monday’s earnings presser:

The mobile payments area in general is one we’ve been intrigued with. It was one of the thoughts behind Touch ID […] it’s a big opportunity on the platform.

I guess PayPal getting a piece of Touch ID, iBeacons, and 575 million iTunes accounts with linked credit cards shouldn’t be too surprising, but somehow it is.