Information comes from the Wall Street Journal which claims that Apple is in the initial stage of development of their infrastructure for mobile payment. The system would be based on the iTunes store and would use the associated tabs, allowing customers to pay for anything - not just things from the Apple Store, as is now the case.
According to the same source, the first steps toward meeting this goal have already been taken. Jennifer Bailey, who previously led the Apple online store, has now been given the role of head of development of mobile payment.

[Ed – mobile payments are quite old and originated with Nokia. Although Apple has not been arrogant enough to claim their created Mobile Payment (yet), we are sure that a slew of patents is on the way from them once they are doing re-engineering other peoples work...]

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