Apple Pay revenue hasn’t gotten much attention so far. The most valuable role Apple Pay plays for the Cupertino company is further lock-in to the ecosystem.
Once you’ve experienced the convenience of Apple Watch payments in particular, and know the security you get from the use of Apple Pay on any device, it’s not something you’ll want to give up. (Sure, there’s Google Pay and Samsung Pay too, but it still adds friction to switching platforms.)
But a news report yesterday prompted me to do some back-of-an-envelope calculations, and I reckon Apple’s mobile wallet service is rapidly headed toward becoming a multi-billion dollar revenue stream…
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