If recent rumors are to be believed, Apple may once again be moving into another market. This time? Online transactions.

These rumors suggest that Apple is planning on turning iTunes into a PayPal competitor for use with products made by other companies. This would add to the fact that users can already purchase virtual items and subscriptions from App Store developers.

Take this rumor with a grain of salt until we hear an official announcement because as of now, they are far from confirmed.

(Read) Silicon Alley Insider

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