Interesting perspective from Richard Saintvilus:
Apple’s recent struggles in the realm of mobile devices may be temporary.
The competition from Samsung phones powered by Google’s Android may have hurt Apple’s profile as a tech power, but the next area for Apple to dominate could be your wallet.
How is it that Apple is hurt?
Apple’s $145 billion cash hoard is constantly brought up in bear arguments. But imagine if Apple used its cash to turn its iPhone into currency — a true mobile wallet.
Yours truly on Mac360 this week.
Here’s one that makes some sense for Apple and the numbers are stunningly huge. Banking. Money. Finance. Or, put more simply, iWallet. Apple has enough cash on hand to fund the mother of all finance groups so that anyone can buy a Mac, iPhone, or iPad.
And, Apple as banker:
Another big number is the number of credit card numbers and accounts Apple has on hand for iTunes, iTunes App Store, Mac App Store– to the tune of about 500-million. Certainly Apple would like those customers to be able to use their Apple account for transactions outside of the App Store.
More from Saintvilus:
Apple should look to acquire a company like Square, which offers a pocket-sized credit card reader that plugs into your device’s audio jack. Square makes it easy for small businesses to accept credit cards without installing a high-fee terminal. Today, the company is estimated to process close to $5 million worth of daily mobile transactions, which makes Square a direct rival to PayPal.
That works for me.