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Apple Pay quickly takes the top spot among U.S. mobile payments services

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Apple Pay quickly takes the top spot among U.S. mobile payments services
At the WSJ.D conference held on Monday in Laguna Beach, Apple CEO Tim Cook sat down for an interview. During his chat, he announced that Apple Pay has been quite a success, getting off to a great start after just 72 hours. Over 1 million credit and debit cards have been activated for the service, and Apple Pay now accounts for more mobile wallets in the U.S. than all of the other competitors combined.

What about those retailers that have been deciding to back away from Apple Pay, like Rite Aid and CVS? Cook said that in the long run, retailers will have to do what consumers want them to, which might include supporting Apple's mobile payments service. Additionally, Cook says that the security of Apple Pay will help retailers avoid the credit card fraud experienced by Target, Home Depot and Staples among others. That should give many firms enough incentive to give in and ultimately decide to use Apple Pay.

Cook himself said that he used Apple Pay at Whole Foods. While the executive is obviously biased, he did have some kind words for the mobile payments service, saying how easy it is to use. "You're no longer fishing for your credit card," he said. "It's the first mobile payments system that's easy, secure, and private."

source: WSJ.D via MacRumors

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