At the Wall Street Journal Digital Live conference, Tim Cook said that the setbacks faced by Apple Pay amounted to a skirmish, and that the payment service itself was off to a great start. Cook mentioned that in the first 72 hours of the service going live, over one million credit cards have been activated on Apple Pay, making it the number one mobile payment system in the US. In addition, Cook announced plans to work with Alibaba's Jack Ma to integrate Apple Pay with the Chinese retailer's Alipay service.
According to Tim Cook:
We've been at it for a week. In the first 72 hours, we had gone over the 1 million mark in activation of cards. We are already No. 1. We are more than the total of the other guys. We've only been at it a week. I feel fantastic. You are only relevant as a retailer or merchant if your customers love you. It's the first and only mobile payment system that's easy, private and secure.
When asked about working with Jack Ma:
Cook mentioned that while he was confident about the success of Apple Pay in the long run, the bulk of the revenue and profit for the next three to five years was likely to come from the iPhone. During the conference, Cook also talked about the evolution of Apple TV as well as the upcoming Apple Watch.
What are your thoughts on the statements made by Tim Cook today?
Source: The Wall Street Journal
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