The tech giant is reportedly looking at getting into the mobile payment business. According to published reports, Apple is said to be in talks with credit card companies to create a service that would allow users to pay for items with the iPhones acting as credit cards.
With Apple now trading near its
split-adjusted all-time highs, what will such a service mean for its
stock? Gina Sanchez, founder of Chantico Global, believes this would be a
potentially big deal for the company.
“Everybody is waiting for the
next big thing because that’s what Apple is known for,” said Sanchez, a
CNBC contributor. She noted that mobile payments are estimated to grow
to $90 billion in 2017, from $12.8 billion in 2012, according to
Forrester Research.
If they can take a cut of each transaction this could build up pretty quickly. It is high margin business as well. If I bought an iPhone6 I would certainly set it up to pay with my debit card instead of having to reach into my pocket.
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