Apple’s new mobile payment system Apple Pay was able to get more than 1 million activations in the first three days after its launch on Monday, October 20, overtaking all the existing mobile payments systems, said Apple CEO Tim Cook.
“We’re already No. 1. We’re more than the total of the other guys,” Mr. Cook said at tech industry conference. “We’ve only been at it a week,” he said quoting both Visa and MasterCard officials version that the Apple Pay is already seeing more use than the rivals with “contactless” methods of payment.
In addition to Visa and Mastercard, Apple has partnered with major banks and large retail chains. Tim Cook said Apple is exploring partnership with China’s e-commerce giant Alibaba chief Jack Ma too.
On future plans, Time Cooks says he has set his eyes firmly on television, which is more than 30 years old with no significant addition or modification to it. “So, I think there’s a lot to be done here. It’s an area where I’m optimistic that there is something great that can be done in the space.”
On Apple Pay, he said, “We don’t want to know what you buy. We’re not Big Brother; we’ll leave that to other people,” taking a dig at Google and Microsoft, which collect such information.
Apple has, in Q4 results for its fiscal 2014, posted a quarterly revenue of $42.1 billion and quarterly net profit of $8.5 billion, or $1.42 per diluted share. These results compare to revenue of $37.5 billion and net profit of $7.5 billion, or $1.18 per diluted share, in the year-ago quarter. Gross margin was 38% compared to 37% in the year-ago quarter. International sales accounted for 60 percent of the quarter’s revenue, hinting at India and Chinese markets where its foothodl is increasing, of late.
“Our fiscal 2014 was one for the record books, including the biggest iPhone launch ever with iPhone 6 and iPhone 6 Plus,” said Tim Cook. “With amazing innovations in our new iPhones, iPads and Macs, as well as iOS 8 and OS X Yosemite, we are heading into the holidays with Apple’s strongest product lineup ever. We are also incredibly excited about Apple Watch and other great products and services in the pipeline for 2015.”