Is Apple Pay here to stay or is it merely another mobile payment method that will eventually fall to the wayside? Perhaps it’s too early to tell, but for now it certainly sounds like many customers are at the very least interested to try it out. According to Apple’s CEO Tim Cook who spoke at the WSJ.D Conference, it was revealed that Apple saw 1 million credit and debit card activations in the 72 hours that Apple Pay had gone live.
Cook also went on to state that he himself uses Apple Pay when he shopped at Whole Foods, “You’re no longer fishing for your credit card. It’s the first mobile payments system that’s easy, secure, and private.” It was also revealed that Apple Pay now accounts for more mobile wallets in the US compared to other mobile payment options combined.
Cook also expressed his confidence in the mobile wallet, stating that he believed that eventually retailers would come to see that Apple Pay is such an easy system and will eventually give in to what their shoppers are asking for, especially when it is supposed to help prevent fraud like in the case of Target, Home Depot, and other retailers who had recently experienced a theft in customer data.
His comment is most likely in reference to retailers such as CVS and Rite Aid who confirmed that they would not be supporting Apple Pay. It is believed that they, along with Walmart and Best Buy (just to name a few) are planning a mobile payment system of their way to compete with the likes of Apple.
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