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Thursday, November 08, 2018

Apple Pay for Mobile Payments

"Every day between credit and debit, we spend $12 billion. That's more than $4 trillion a year, and that's just in the United States," Apple CEO Tim Cook said in introducing the new payment system at the company's Sept. 9 launch event in Cupertino, Calif. "We think we have a better way to handle those transactions."

If Apple Pay works, it can be a major game-changer in the U.S. economy. Devices like smartphones and watches come and go, but a payment method that is simple to use and solves security problems could be around for a long, long time.