Lately, Apple analysts have been kicking around the idea of Apple doing something in the payments space.
Apparently, the reason they’re starting to kick this idea around is because Apple’s management has been planting the idea in their heads.
At WWDC, Apple’s big conference, we heard from someone we trust that Apple’s executives are telling analysts who venture out to its headquarters that it has some ideas about payments.
Apple isn’t coming out and saying, “Here’s what we we will do.” Instead, it’s suggesting that it has ideas about the market and how to unlock it.
During WWDC, Tim Cook bragged that Apple has 575 million credit cards in its system, more than any other online retailer.
Apple apparently thinks it has an idea about how to use these credit card accounts to unlock a new digital payment system.
Apple recently filed for a patent on some sort of digital payment system that would involve tapping a phone to a pad.
It would probably involve people using iPhones and retailers using iPads. Apple has been vague with analysts, it seems, but our understanding is that it’s hinting that it may have an idea.
If Apple is going to start growing its earnings again, it’s going to need to enter new product categories. While most people are thinking Apple will do something with hardware. It’s entirely possible that it could be a service like payments.
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