Apple To Rival PayPal With New Pay Platform?

Wall Street gossips told Business Insider this morning that Apple executives have dropped hints suggesting the company is considering creating a service that would allow iTunes Store account holders to use their accounts to make purchases on third party sites across the web.
Such a service would make Apple a direct competitor to eBay’s PayPal, Amazon and soon Facebook, who is also building a pay platform. PayPal currently boasts they have over 100 million users, however it is believed that Apple has over 200 million iTunes users (not all of the accounts have a credit card linked to them). Apple is the king of user experience, and as anyone has seen with paying for something on iTunes or through the iPhone, the process is seamless (can’t say the same for buying or selling through PayPal).