Tim Cook: Over 1 million credit cards have been activated with Apple Pay
While speaking at the WSJD Live event last night, Apple CEO Tim Cook revealed some initial data regarding the company's recent rollout of Apple Pay. According to Cook, over 1 million users have already loaded up a credit card onto their iPhone via Apple Pay.
Given that Apple Pay remains US-only for now, the 1 million figure is certainly impressive. Cook made a point of noting that the figure is already higher than all other mobile payment platforms combined.
And we've only been at it a week. I feel fantastic. We're just getting started but the early ramp looks fantastic. And I'm getting flooded with emails from customers. It's sort of that 'ahh' moment - you use the phone and it's all you have to do.
With respect to the recent Apple Pay drama involving Rite Aid and CVS, Tim Cook confidently stated that the benefits of Apple Pay will give it the edge in the long run. Cook explained that 'over the long arc of time,' retailers will have to acquiesce to the services that consumers want.