“Apple and China’s state-owned credit card processor announced plans Friday to launch Apple Pay in China. The payment system extended to Apple will allow cardholders to make payments via Apple iPhones, Apple Watches and iPad,” Ophir Gottlieb writes for CMLViz.com. “But the real news is how the impact of Apple Pay is going to be colossal for the company.”
“Remember that China’s mega holiday season is going to line up perfectly with the release of Apple Pay. China’s biggest shopping season comes ahead of the Lunar New Year holiday, which begins Feb. 8,” Gottlieb writes. “Apple is humiliating Wall Street’s analysts and the mainstream media because both lack the lexicon to understand what’s actually happening in technology. While Wall Street has been calling Apple a ‘phone company,’ Apple has increased spending in research and development by up 90% in just the last two-years.”
“Apple is investing in a lot o[n] innovation and the iPhone is the hub that powers all of it,” Gottlieb writes. “When a person holds their iPhone in their hands, they aren’t holding an upgraded Ericsson flip phone from 2003. They’re holding their wallets. They’re holding their keys. They’re holding their TV remote. More iPhones means more of Apple in the middle of everything we do.”
Apple Pay “is a colossal business in and of itself, and it makes up just one little piece of what Apple is becoming. Never has Apple shown so much innovation, spent so much on R&D and at the same time held so much power in the consumer market,” Gottlieb writes. “Apple Pay is going to be massive.”
Read more in the full article here.
MacDailyNews Take: Gottlieb gets it.
Apple Pay to take on Tencent’s WeChat Wallet and Alipay in China – December 18, 2015
Apple partners with UnionPay to launch Apple Pay in China – December 17, 2015
Pay Finders app for iPhone shows you where Apple Pay is accepted – December 1, 2015