Analyst: Apple Pay likely didn't contribute to Apple's 2014 success

Apple Pay could help usher mobile payments to the mainstream, but didn't widely contribute to Apple's Q4 2014 success, analyst says.

Published Mon, Jan 26 2015 4:50 PM CST   |   Updated Tue, Nov 3 2020 12:10 PM CST

Apple had a great Q4 2014, but its mobile payment system, Apple Pay, likely didn't have a major impact on that success, analysts believe. Despite drawing tremendous interest from consumers looking to embrace mobile payment, Apple Pay - and rival platforms - simply haven't been able to compete against cash, debit and credit card payments.

Analyst: Apple Pay likely didn't contribute to Apple's 2014 success | TweakTown.com

"Apple Pay is not likely to be a material revenue stream on its own anytime soon," predicted Colin Gillis, analyst at BGC Partners, in a statement published by CNN Money.

However, a growing number of retailers are interested in adopting Apple Pay, and that will lead to future iPhone adoption - along with one day hopefully moving the needle. Most credit card companies charge 1.5 percent up to 3 percent per swipe, while Apple charges just 0.15 percent per transaction.

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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