The end of money can’t come soon enough for Apple CEO Tim Cook.
During Apple’s annual shareholders meeting today, Cook told investors that mobile payments like Apple Pay haven’t taken off quite as fast as hoped. However, he said he sees promising signs that the death of cash could soon be upon us.
Cook told shareholders, who met in Apple Park’s Steve Jobs Theater, that he’s “hoping to be alive to see the elimination of money.”
Apple Pay combined with the iOS Wallet app has promised to eliminate the need to carry cash, credit cards, debit cards and pretty much everything else you stuff in a wallet. Mobile payments have taken off in last 12 months in countries like Russia and Chine, but adoption has been a bit slow overall.
“Mobile payments have taken off slower than I personally would have thought if you asked me sitting here a few years ago,” said Tim Cook today.
One of the biggest hurdles is getting merchants to accept Apple Pay. Teaching iPhone users how to use Apple Pay is another challenge, especially in countries like China where Apple recently started accepting Alipay at stores.
Buster Hein is a freelance writer who lives in Phoenix, Arizona. Twitter: @bst3r.
15 responses to “Tim Cook wants to see money die”
Translation: Tim Cook wants to see an iPhone cost $500,000,000 after currency is allowed to hyperinflate without oversight.
That’s a stretch. He’s just talking about physical money vs money tracked by computers.
If he doesn’t explicitly desire the end of fiat currency, then he wants what I mentioned.
I predict there will be a significant backlash of people reverting back to cash, but only after stronger adoption of electronic payments.
A fairly larger percentage of people have had to survive on cash because banks won’t open up an account for them and they can’t get a credit card.
I like cash, especially when others get drunk, accidentally drop some on the floor so that others can pick it up. I found a $50 bill at a parking lot near a hotel the night they had a wedding reception. I couldn’t believe it was a $50 since you don’t see those too often. But over the years I’ve found lots of cash on the ground, unfortunately not enough to retire on,, but it’s fun to find $1, $5, $10, $20 or higher on the ground waiting for a new owner.
once again the super elite hold no value on cash.. hopes the middle class adopts debt
“One of the biggest hurdles is getting merchants to accept Apple Pay. Teaching iPhone users how to use Apple Pay is another challenge”
ApplePay was a year or two late coming to Canada. I know of a few merchants that take it around here, but not many. My Credit Union has no plans to move their cards to ApplePay. None of my credit cards are compatible with ApplePay. I’D love to learn how to use it. Just haven’t had any opportunity yet.
Chine.
As to the cash backlash conversation – I don’t think so. There also wasn’t any significant backlash of people reverting back to long distance telephone calls, strictly watching television series at their programmed times, or mass purchases of encyclopedias after the internet turned these markets on their heads.
Oh, and the future is BTC.
Just what I needed YET ANOTHER reason to dislike Tim Cook.
He is openly pushing the zionist joo agenda. Soon they will make that cryptocrap the world monetary system and do away with all present systems, doubtlessly making huge financial gains at the same time, whilst us menials will lose out big time but hey, Yom Kippur anyone?
The end of paper cash does not mean the end of money. Digital transfers like Apple pay remain transfers of bank created debt-money. The real end of money involves the clearing of debits and credits among buyers and sellers without the involvement of banks or the use of conventional currencies.
The U.S. in general is behind. I went to Iceland 3 years ago and I was able to pay pretty much everywhere with Apple Pay. Here in the U.S. I am surprised when a merchant takes it.
Yeah just what we need — the ability for government and corporations to “control” money. No thanks. Tim, keep your Globalist/Socialist ideas to yourself.
I would agree with the point that Apple needs to make it clearer how to set it up and use it. There was a lot of buzz when it was first released but since then almost nothing. The couple times I started to set it up, (see my note above about how my cards won’t support it and my CU is not interested in even trying to work with it) and I was down to Googling how to set it up. As far as using it, honestly when I get it set up I may end up making a midnight run to Tim Horton’s to experiment. They do take it and I know there won’t be a line impatiently waiting for this old guy to figure it out.
As far as your idea that people are just all hopeless pieces of crap, well, maybe not ALL.