“American Express and Apple are companies with very similar styles. They’re both arguably the best and most exclusive with what they do, they’re both extremely well-respected, they both have stocks that have outperformed, and they’re both prestigious names,” Thom Lachenmann writes for Seeking Alpha. “So, it comes as no surprise to us that American Express would be one of the choices of credit card companies that Apple would seek out for help developing its mobile payments system. Re/code was the first to cite that the two companies would be working together on such a platform.”
“It’s said that mobile payments are going to be one of the major features revealed in the upcoming Apple event on September 9th,” Lachenmann writes. “There have also been reports of Visa and MasterCard working with Apple. Although the deal isn’t exclusive to American Express, we like the fact that Apple has brought them on board.”
“Just as Apple is our preferred technology company to invest in, American Express would be our staple in the credit card field. We believe that Apple is pioneering something here too. It’s only a matter of time before the whole world switches to digital wallets,” Lachenmann writes. “We like that Apple looks like it’ll be one of the first to implement this, and we like its partnership with American Express.”
Read more in the full article here.
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