Apple Pay adds 23 regional banks and credit unions to growing roster

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Now even more of us not with major banks can use Apple Pay.
Now even more of us not with major banks can use Apple Pay.
Photo: Rob LeFebvre/Cult of Mac

If you’re a user of a local or regional credit union like I am, you’ll be excited to hear that Apple continues to add smaller financial institutions to its ever-growing list of places that will let you pay for things using your iPhone or Apple Watch.

With these 23 new additions, Apple now has 255 Apple Pay partners available to those of us who love the future of payments.

Apple will make 15 cents for every $100 spent on Apple Pay

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Photo: Apple
Photo: Apple

For every dollar spent on the iOS App Store, Apple makes thirty cents, but if you expect Cupertino to be collecting 30% of every buck spent on Apple Pay, you’re crazy. The world of finance is much more nuanced — and ruthlessly competitive — than selling apps: Apple will have to settle for just fifteen cents for every $100 spent. But that’s actually a lot of money in financial terms.

This Chart Is The Best Argument Yet For Why Apple Needs The iWatch

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Screen Shot 2014-03-30 at 6.04.39 PM

Here’s an interesting financial. Robert Paul Leitao, founder of the AAPL Independent Analysts, shows how Apple’s revenue has grown over 1,127% since 2006, and earnings per share has grown an incredible 2,457%.

Fiscal 2011 and fiscal 2012 have been particularly kind to Apple: 66% in 2011, and 54% in fiscal 2012, largely thanks to new deals such as the Verizon Wireless iPhone deal, and the announcement of a new product line in the iPad. In 2013, though, Apple grew only 9.2%, and so far, Apple’s guidance for the latest quarter suggests nearly no growth at all.

Leitao’s conclusion? Apple’s growth is dependent on the successful release of new and currently unannounced new products. “Apple is an episodic enterprise,” he writes. The best reason to believe that Apple has an iWatch coming this year is that, without one, Apple will stop growing.

Source: Posts At Eventide Via: CNN