Apple Pay to be available for certain financial transactions with the federal government

February 17, 2015 - 

Apple CEO Tim Cook announced at the White House Summit on Cybersecurity and Consumer Protection that payment service Apple Pay will be expanded to some financial transactions with the federal government, according to a report by Mashable.

This September, consumers will be able to use Apple Pay to gain access to national parks, as well as with Social Security and veterans’ benefits cards.

“Security was part of the reason we developed the technology in the first place,” said Cook. “We can imagine a day in the not so distant future when your wallet becomes a remnant of the past.”

Cook delivered a presentation at an all-day summit focused on President Obama’s signing of an executive order regarding cybersecurity, which calls on companies to take-charge in sharing cyberthreat data with one other as well as with the government.

The order details a “framework for expanded information sharing designed to help companies work together, and work with the federal government, to quickly identify and protect against cyber threats.”

Cook continues to emphasize the importance of privacy, criticizing the collection of private data from the government and websites such as Google and Facebook.

Cook reaffirmed his dedication to Apple customers’ privacy at the conference, stressing that security does not automatically mean that the public must give up its privacy.

“Our customers’ trust means everything to us,” he said on Friday. “Privacy and security are built into every one of our products and services from their inception.”

Previously reported, Samsung is currently in talks to launch a mobile payment service this year, putting it in direct competition with Apple Pay.

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.