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Is PayPal The Best Payment Processing Fit for Apple?

According to a slew of published reports this week, Apple is purportedly facing the incessant entreaties of one PayPal, the digital payments giant that can't help but throw itself at Apple as the iDevice maker considers a full-blown foray into the mobile payments arena.

As the Wall Street Journal reports, Apple is eager to move beyond the in-store mobile payments platform that employees use to expedite transactions at the company's 400 retail outlets around the world.

Following the national crash of this internal mobile payments processing system in November, some inconvenienced customers have been calling on Apple to obtain the services of mobile payments experts to ensure that outages aren't so severe and expansive in the future.

As it turns out, Apple is worried about its payments prowess, too. In addition to speculation that Eddy Cue, Apple’s iTunes and App Store chief, has already initiated talks with key industry executives to discuss Apple’s desire to create a comprehensive mobile payments solution, sources confess that PayPal is practically throwing itself at Apple today.

Apple would likely be more interested in working with a reliable mobile credit card processing company like Square or PayAnywhere, which would potentially mitigate the in-store payment nightmares they experienced last fall.

Just today, three unnamed payments industry executives told Jason Del Rey of Re/code that 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," Del Rey admits, "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."

Most industry sources believe a deal with PayPal is "unlikely."

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