At Apple's (AAPL 1.27%) recent Worldwide Developers Conference, CEO Tim Cook announced that iTunes has a whopping 575 million active accounts with credit and debit cards on file. This revelation, coupled with a new iOS 7 feature known as AirDrop, could indicate that Apple is getting closer to entering the mobile payments space. In the video below, Fool contributor Steve Heller explains why eBay's (EBAY -0.14%) PayPal unit could have the most to lose.
This competitor comes with unprecedented scale.
Fool contributor Steve Heller owns shares of Apple and eBay. The Motley Fool recommends Amazon.com, Apple, and eBay. The Motley Fool owns shares of Amazon.com, Apple, and eBay. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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