Apple’s iPhone will become legal tender

“The next area for Apple to dominate could be your wallet,” Richard Saintvilus writes for TheStreet. “There are too many growth capabilities in mobile payments for Apple to ignore. EBay’s recent earnings report said that PayPal’s revenue surged 18% year over year, demonstrating how viable a business this could be for Apple.”

“Apple should look to acquire a company like Square, which offers a pocket-sized credit card reader that plugs into your device’s audio jack,” Saintvilus writes. “Square makes it easy for small businesses to accept credit cards without installing a high-fee terminal. Today, the company is estimated to process close to $5 million worth of daily mobile transactions, which makes Square a direct rival to PayPal.”

Saintvilus writes, “Apple can once again dominate mobile devices and grow its cash by turning the iPhone into the ‘legal tender.'”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

34 Comments

  1. I want to take this chance to express my feeling on AAPL and GOOG price tonight !

    Is there justice in the world ! Google stock price is now 90x , people buying it like people in earthquake or end of the world buying foods in supermarket .
    AAPL at the same time being dumped like u shit .

    What kind of valuation is it ? With apple cash , I think google wont have the same amount within the next 20 years . Is that what the mothetfuckers like !? Huh !!

    I seriously warn u mothetfuckers , I am not an easy man , I will insult u till I die . Don’t push aapl down to $400 . Don’t test my limit of patience !

    Are u gonna make AAPL drop like exactly what GOOG rises ?

    Fxck u mothetfuckers . ( sorry for my rude words ) I am just very unhappy .

    1. It’s already dropped below $400 recently. What you did not seriously believe this was a rally did you?

      This is just a hiccup, get ready for another round of…
      Manipulators! Manipulators! Manipulators!

    2. Look at this price drop positively. Apple is on a share buy back spree. The lower the price drops, the more shares Apple gets to buy back. You just have to be patient. Short term pain, long term gain. Apple is still making awesome products and that is not going to change anytime soon.

    3. To big investors of AAPL,

      My bottom line that u can accept u to pull down AAPL is $15 . Don’t be more than that .

      Remember , I am not am easy man . I will become crazy if AAPL drops more than this today .

      1. Are u reading my post , u fxxking a$$holes!!!

        U made AAPL drop 15.01 ! 0.1 MORE?

        Are u testing me? HUH!

        I have big cash to support Apple at 418 , come on get me, dare u!

  2. Too bad the stock cant hold value like the phone. Down $20 in less than 24 hours for no reason while the market is flying. I dont care what the reason wall street hates apple is. Im done with this bullshit. Its never going to change.

    1. The market is a game these days, and stock cost has NO relationship to value. Just the facts.

      However, back to the article… ““There are too many growth capabilities in mobile payments for Apple to ignore.”

      Just another blogger filling space. Apple is not focused on growth for the sake of growth. So the comment is pure s**t.

      If Apple sees a way to make a vast improvement in payments then it will move that way and not before.

      Actually, they still have a bunch of bugs to fix in iTunes before getting into payments. 🙁

  3. Apple will own and revolutionize the credit card and payment industry, it’s longtime loyal customers will trust and immediately flock to and embrace the new technology that Apple introduces, because Apple has their proven unequivocal trust.

    That is really the real reason for the recent stepped up, consorted smear campaign against Apple :

    An all out effort to tarnish Apple’s pristine and stellar reputation and fanfare which translate to a unique “unwavering consumer trust”. This will cement Apple’s lead and spearhead it’s forthcoming financial payment foray and revolution.

    Those that know Apple’s MO and historical track record, will immediately throw their all out proven trust behind Apple’s security and financial payment revolution, no matter how much baseless FUD and lies get thrown at it-
    No other company will or can match this.

    1. I’ve been trading AAPL since 1998, options since 2004. For the last 3 years the market has treated AAPL as if it were DELL, Gateway, eMachines, Sun, and any other under performing tech firm. Fundamentals no longer matter. The Street is buying ‘sexy’ and hype, even though that ‘sexy’ has no substance.

      If that is what an MBA gets you, I’m glad I never invested in one. It probably explains why all the corruption, theft, embezzlement, cheating, etc in and around Wall Street.

      “Trading Places” had it exactly right.

  4. I’m starting to agree with people who say fire Cook. When your stock is under attack you cant afford to have the”church lady” as your CEO. We need a loud mouth who is going to defend the company verbally. The stock is grossly underperformimg. Sooner or later the buck stops with Tim.

        1. I am freaking out too, seeing AAPL shares keep dropping every seconds. How come Wall Street dislike APPLE so much?.May be waiting till Autumn for new products release to market so the shares going back up?

  5. problem is the management in cupertino seems to be sleeping. there are so many opportunities right in front of them (streaming music, payment systems, app based accessories, home automation etc.) while they decided last fall to go a FULL year without any new products or services.

    i really start to think that they have lost their mind…

    1. Exactly correct Ralph–I’ve been saying this for months, wait a full year with no product releases, that sounds logicial/intelligent for a innovative tech company !

  6. Why is it that any MDN thread these days degenerates into a discussion about Apple’s stock price and Tim Cook? This article has nothing to do with Apple’s stock price. Just comment about the article for once!

    1. Because there was no article where the share price was relevant so we just chose any one. You must not be a shareholder because you obviously dont understand the frustration.

  7. CNBC just gave some air time to that meat whistle Trainer. Basically what hes saying is the problem is Apple makes too much money. They cant possibly sustain it so their valuation cant be justified. The hosts just had this really confused look on their faces but of course his ludicrous nonsense went basically unchallenged.

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