As the cryptocurrency market is slowly recovering from last week’s roller coaster, Apple gently hints at a move into the alternative payments sector.
Tech giant Apple posted a job advert on Tuesday for a business development manager, with a focus on alternative payments.
Apple is looking for someone to join the Apple Wallets, Payments, and Commerce team, with a specific remit for leading alternative payments partnerships. The posting goes on to describe the role as requiring candidates to have:
“5+ years experience working in or with alternative payment providers, such as digital wallets, BNPL, Fast Payments, cryptocurrency, and etc.”
This job description alone is encouraging for the whole cryptocurrency market as Apple have, until, shown no desire to move towards alternative payments partnerships. Indeed, any apps on the App Store are required to run through Apple’s own commerce rail and abide by their strict rules.
While it is still unconfirmed that Apple will be moving to accept alternative payments, this news certainly shows a shift in direction. Just last August, Epic Games was in court with Apple challenging their Apple Store payments system.
The last week of tumultuous goings-on and mainstream rejections have had a toll on the crypto market. With major banks, regulators and governing bodies shunning cryptocurrency the market collapsed, like that of March 2020.
Recently, PayPal CEO Dan Schulman predicted that “ten years from now, you will see a tremendous decline in the use of cash.” He predicts that even card use will fall out of favor and most payments will be done on phones through “six-to-ten super apps.”