Apple is curious about cryptocurrencies, posts a job for "Alternative payments"


On
Wednesday, Apple posted a job vacancy for a Business Development Manager, with experience
in digital wallets, alternate payments like cryptocurrencies, who could lead
the partnership program with key players in the alternative payments
ecosystem.
Apple’s
interest in crypto follows increased global acceptance of cryptocurrencies as
an alternate currency. Top companies like Tesla, JPMorgan, PayPal,
MicroStrategy, Goldman Sachs are already offering crypto services to their
clients. Facebook CEO Mark Zuckerberg is also planning on investing in
cryptocurrencies as Libra is unable to take off after it faced significant
criticism from regulators, central banks, and politicians.
Apple
being a Tech leader wanting to join the crypto race is no surprise as demand
for cryptocurrencies has been at an all-time high during this pandemic.
According
to the job listing, "The Apple Wallets, Payments, and Commerce (WPC) team
is seeking an experienced Business Development Manager to lead Alternative
Payments Partnerships. We are looking for a proven professional in global
alternative and emerging payment solutions. We need your help forming
partnership framework and commercial models, defining implementation paradigms,
identifying key players, and managing relationships with strategic alternative
payment partners. This position will be responsible for the end-to-end business
development, including screening partners, negotiating and closing commercial
agreements, and launching new programs."
The job description doesn't mention a specific product or partnership but includes:
managing the relationship with alternate payment partners, partner screening,
negotiating and signing deals and launching new programs. It is looking to
hire someone with alternative payments experience such as digital wallets,
BNPL, Fast Payments, cryptocurrency and etc., which is one of the keys
qualifications for the role.
According
to reports, Apple has already been allowing users to spend on bitcoin through
its wallet and it might soon support its wallet users for bitcoin transactions.
BitPay, a bitcoin and cryptocurrency payment service provider recently allowed
its users to spend with Apple Pay.
The move by Apple was not publicly announced but many experts in the field
speculate that Apple will soon be entering the cryptocurrency space. If this
happens, it would be a huge win for the crypto market, driving its demand. As a
result, more countries might allow cryptocurrency use as an alternative to the
traditional banking system.

Pavan A
CBW - External Analyst
INDIA