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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
By: Michael Hatamoto | Mobile Devices, Tablets & Phones News | Posted: Jan 26, 2015 10:50 pm

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.




"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.


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