11:54 am - Saturday November 7, 2015

Apple Pay already No. 1, boasts CEO Tim Cook

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Apple CEO Tim Cook said Apple’s new mobile payment system Apple Pay had over 1 million activations in the first three days after it became available, and is now more widely used than any competing payment system.

“We’re already No. 1. We’re more than the total of the other guys,” Mr. Cook boasted on Monday during a tech industry conference, “and we’ve only been at it a week.” He said Visa and MasterCard officials have told Apple that the Apple Pay system is already seeing more use than similar “contactless” methods of paying for purchases.

While Apple has partnered with major banks and large retail chains, critics have noted that it’s not accepted by a number of other large chains.

Mr. Cook also said he plans to talk with Jack Ma, executive chairman of the Chinese e-commerce giant Alibaba, later this week about a possible partnership.

Today’s televisions haven’t advanced much technologically in the last 30 years, Mr. Cook said. “So I think there’s a lot to be done here.”

Mr. Cook didn’t offer specifics, but he said, “It’s an area where I’m optimistic that there is something great that can be done in the space.”

Takes a dig at competitors

Apple has touted the privacy and security features of its service, which uses a sophisticated encryption system to let users charge purchases on credit card accounts without having to show their card or account number.

Repeating a favourite dig at competitors such as Google and Facebook, Mr. Cook said Apple doesn’t collect user data or purchase information. “We don’t want to know what you buy. We’re not Big Brother; we’ll leave that to other people.”

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