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`FEBRUARY 12
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`Comment: Apple Pay revenue is heading toward a multi-billion dollar business
`
`Ben Lovejoy - Feb. 12th 2020 7:10 am PT  @benlovejoy
`
`44 Comments
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`    
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`Apple Pay revenue hasn’t gotten much attention so far. The most valuable role Apple Pay plays for the
`Cupertino company is further lock-in to the ecosystem.
`
`Once you’ve experienced the convenience of Apple Watch payments in particular, and know the security you
`get from the use of Apple Pay on any device, it’s not something you’ll want to give up. (Sure, there’s Google Pay
`and Samsung Pay too, but it still adds friction to switching platforms.)
`
`But a news report yesterday prompted me to do some back-of-an-envelope calculations, and I reckon Apple’s
`mobile wallet service is rapidly headed toward becoming a multi-billion dollar revenue stream…
`
`“”
`
`It was yesterday estimated that Apple Pay now accounts for a staggering 5% of global card transactions, and
`that the number could hit 10% by 2025.
`
`https://9to5mac.com/2020/02/12/apple-pay-revenue/
`
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`The Financial Times reported in the run-up to launch that Apple takes a 0.15% cut on all Apple Pay
`
`transactions.
`
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`[Banks] are also paying hard cash for the privilege of being involved: 15 cents of a $100 purchase
`will go to the iPhone maker, according to two people familiar with the terms of the agreement, which
`are not public. That is an unprecedented deal, giving Apple a share of the payments’ economics that
`rivals such as Google do not get for their services.
`
`Estimating the total value of that cut involves a lot of scribbling on the backs of envelopes. But let’s try for an
`indicative ballpark, at least.
`
`The 2019 Federal Reserve Payments Study estimates the total value of US card transactions for 2018.
`
`Total card payments grew to 131.2 billion with a value of $7.08 trillion in 2018, up 29.7 billion and
`$1.56 trillion since 2015.
`
`Call it $7T in round numbers. If 5% of those payments are made via Apple Pay, then that’s $350B worth of
`transactions. If Apple takes 0.15% of that, then it made a cool $525M in 2018. If Bernstein is right that the
`percentage doubles to 10% by 2025, then that’s a billion-dollar business – from one country in one year.
`
`We don’t have comparable Apple Pay usage estimates for other countries, and we’d need to look at total card
`transactions in each country and … well, that’s a student thesis right there. But employing the best advice I ever
`read on safely making predictions (‘give them a number or give them a date, never both’), it seems to me we
`can safely say that Apple Pay revenue is headed toward a multi-billion dollar business.
`
`Not bad for free money.
`
`FTC: We use income earning auto aliate links. More.
`
`Check out 9to5Mac on YouTube for more Apple news:
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`Hands-on: LumaFusion FCPXML Final Cut Pro X exHands-on: LumaFusion FCPXML Final Cut Pro X ex……
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`Apple Pay is Apple's mobile payments solution rst introduced in 2014.
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`https://9to5mac.com/2020/02/12/apple-pay-revenue/
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`2/12
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`About the Author
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`Ben Lovejoy
`@benlovejoy
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`Ben Lovejoy is a British technology writer and EU Editor for 9to5Mac. He’s known for his op-eds and diary pieces, exploring his
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`Frank • 3 days ago
`Apple made paying fun. This is how we go bankrupt xD.
` 1 △ ▽
`•
`Share ›
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`thebarron
` • 2 days ago
`> Frank
`
`Apple Pay will never go bankrupt, BUT Samsung & Google Pay will cease operation
`due to too many issues and reputations.
`
`
`
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`iPhone
`Mac
`Watch
`iPad
` 1 △ ▽ 1
`•
`Share ›
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`Music
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`Frank
` • 2 days ago
`> thebarron
`With we, I meant us, the people. Because paying is fun, we'll pay more :D.
` 2 △ ▽
`•
`Share ›
`
`Michael Ajidagba
` • 2 days ago
`> thebarron
`Issues such as........
`•
`Share ›
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`△ ▽
`
`Nick Mahon
` • 2 days ago
`> Michael Ajidagba
`None, he just hates the other guys. I use Sam pay daily. I love messing
`with the cashiers, "we dont take.... oh it worked!"
`•
`Share ›
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`△ ▽
`
`Michael Ajidagba
` • a day ago
`> Nick Mahon
`I figured. He/she is such a typical 🍎 fanboy it's a shame. (cid:0)(cid:0) ♂ (cid:0)(cid:0) ♂
`(cid:0)(cid:0) ♂
`
`△ ▽
`
`•
`
`Share ›
`
`Film@11
` • 2 days ago • edited
`> Nick Mahon
`It was a clever idea of Samsung's, using the mag stripe reader,
`especially once they secured those transactions. When the mag stripe
`readers go away in the not too distant future then Samsung Pay will
`cease to work at those locations that don't explicitly support NFC
`payments. There will always be the odd vending machine or parking
`meter I guess that still use the stripes.
`•
`Share ›
`
`△ ▽
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`Luis Artola
` • a day ago
`> Film@11
`Apple Pay already doesn’t work at all at those locations not explicitly
`supporting NFC. Besides, by the time mag stripe readers go away
`completely, NFC will most likely be explicitly supported pretty much
`everywhere so no problem there since Samsung Pay can also use
`NFC. In fact, that’s the case in Europe already. There, Samsung Pay is
`already only used over NFC.
`•
`Share ›
`
`△ ▽
`
`Film@11
` • 13 hours ago
`> Luis Artola
`I am not engaging in an Apple vs Samsung discussion. Samsung had a
`clever idea, exploiting the mag stripe technology. It was nearly
`universally deployed and Samsung didn't need to get banks or
`merchants to sign up with them for it to work. Unfortunately the initial
`release was completely insecure but that was corrected after Samsung
`worked with the banks and processors to tokenize the transactions.
`That did limit where it worked.
`
`Once mag stripes disappear then Samsung will have to have
`agreements in place for their NFC to work. This is where Apple is fairly
`far ahead of them. Apple has been working to secure agreements with
`merchants and banks since day one. It is estimate that Apple Pay is
`now 5% of all credit card transactions for this reason. I know for
`example that Apple Pay does work on my NFC terminal but Samsung
`Pay and Google Pay do not as my processor and I never enabled them.
`•
`Share ›
`
`△ ▽
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`Luis Artola
` • 12 hours ago
`> Film@11
`That’s not how it works. The agreement between banks and the tech
`https://9to5mac.com/2020/02/12/apple-pay-revenue/
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`Apple Pay revenue is heading toward multi-billion dollars - 9to5Mac
`companies is required for the banks to let their customers use their
`cards with a particular mobile payment service, not for their affiliated
`merchants accepted that particular mobile payment. Merchants don’t
`
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`
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`Watch
`iPad
`Music
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`need to sign up with the tech companies such as Apple or Samsung, all
`they need for payments other than Samsung Pay to work is to have
`their NFC readers enabled and once they do everything works:
`contactless cards, Apple Pay, Samsung Pay, Google Pay, Fitbit Pay and
`any other. Proof of this is that merchants can accept mobile payments in
`countries where those payments are otherwise unsupported.. I have
`been using apple pay in Mexico since 2016, for example (set up with a
`US card). If it were as you say, I shouldn’t be able to use apple pay in
`Mexico at all because none of the local banks and payment processors
`used by stores here actually support it (apple hasn’t officially launched
`apple pay here yet).
`•
`Share ›
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`△ ▽
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`Nick Mahon
` • a day ago • edited
`> Film@11
`As long as giftcards and prepaid cards are around the mag stripe will be
`too. And even if they do go away samsung has nfc as well so it will
`always be around just like apple pay
`•
`Share ›
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`△ ▽
`
`Luis Artola
` • a day ago
`> Nick Mahon
`Exactly. Besides, all other mobile wallets already don’t work even now
`at places not explicitly supporting NFC where Samsung Pay still does
`using MST so I really don’t get Film@11’s point.
`•
`Share ›
`
`△ ▽
`
`Film@11
` • a day ago
`> Nick Mahon
`I agree. The only thing that will change is Samsung Pay working at
`stores that no longer have mag stripe readers, unless of course, they
`have actually set up Samsung Pay. Like I said, they pulled off a neat
`trick with their support for mag stripe readers. It worked whether the
`merchant supported Samsung Pay or not.
`•
`Share ›
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`△ ▽
`
`Luis Artola
` • a day ago • edited
`> Film@11
`Samsung can use NFC when it is available, so no problem there. By the
`time magstripe readers go away completely, NFC will probably be a
`worldwide standard just as the chip is now and Samsung Pay will
`continue to work. In fact, that’s already how it works in Europe since
`retailers there already have magstripe disabled.
`•
`Share ›
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`△ ▽
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`BeIgianWaffle • 3 days ago
`Would be way more if it was available in Belgium. The Belgian people have a combined 275
`billion € in the bank waiting for Apple Pay to come to splash it all out.
` 1 △ ▽ 1
`•
`Share ›
`
`Luis Artola
` • 3 days ago • edited
`> BeIgianWaffle
`Apple Pay is already available in Belgium since November 2018. Sure, it may need to
`be rolled out to more banks yet, but Apple already did start the official Apple Pay
`rollout there. Nonetheless, that 0.15% fee has proven to be a huge obstacle for Apple
`Pay to be rolled out around the world. Banks are extremely reluctant to pay it and
`that’s why it took Apple so long to roll out Apple Pay to many European countries, for
`example. And that’s also why Apple has got beat to many markets, including some
`where Apple Pay isn’t even in the radar yet such as South Korea, Chile or Mexico, by
`one of its competitors such as Google Pay or Samsung Pay that were able to enter
`those markets first because they don’t charge fees like Apple does, or at least they
`charge lower fees.
`•
`Share ›
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`BeIgianWaffle
` • 2 days ago
`> Luis Artola
`That's true. Apple Pay is available with BNP.
`
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`iPhone
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`iPad
`Music
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`TV
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`But now I know why banks are reluctant to support Apple Pay... I hope Apple
`drops their fee so the banks start rolling out Apple Pay support.
` 1 △ ▽
`•
`Share ›
`
`Tony Turner
` • 2 days ago
`> BeIgianWaffle
`There is a reason Apple Pay is barely available in the EU and it's Appl's
`greed. EU member countries have a 0.2 per cent transaction fee for
`debit and 0.3 per cent fee limit for credit cards. Since there is little room
`for profit for Apple they have not made the EU a priority.The banks don't
`have much margin to deal with Apple since they are limited on the
`amount they can give Apple because of the much lower fees they can
`get than the US, Canada or China.
`•
`Share ›
`
`△ ▽
`
`Jan Lunddal Larsen
` • 2 days ago • edited
`> Tony Turner
`Apple Pay is more than "barely available in the EU" and you're also
`wrong about the transaction fee. Those are the limits on interbank fees.
`The credit card fees can be over 4%
` 1 △ ▽
`•
`Share ›
`
`Tony Turner
` • 2 days ago
`> Jan Lunddal Larsen
`Apple gets its cut from the merchant transaction fee that it negotiates
`between the banks. Like I said it’s capped in Euope and why in the
`countries that have support from card within that country have a very
`limited amounts of cards from banks available
`•
`Share ›
`
`△ ▽
`
`Jan Lunddal Larsen
` • 2 days ago • edited
`> Tony Turner
`Merchant fees are not capped. The interbank fees are capped, which
`are what one bank pays another bank if the customer and the shop use
`different banks.
`
`Interbank fees are only part of the total fee.
`•
`Share ›
`
`△ ▽
`
`Duel
` • 2 days ago • edited
`> Tony Turner
`” There is a reason Apple Pay is barely available in the EU”
`
`What? Apple Pay support 56 countries in EU. Apple Pay is also very
`popular in EU, thanks to the fact that it works almost everywhere.
`•
`Share ›
`
`△ ▽
`
`Luis Artola
` • 2 days ago
`> Duel
`But it took 3-4 years for most of the EU to officially have apple pay,
`despite that with contactless everywhere the EU was ready for it long
`before it even launched in the US.
`•
`Share ›
`
`△ ▽
`
`Brandon Vaughan • 2 days ago
`by far my favorite apple watch feature is apple pay
`•
`Share ›
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`△ ▽
`
`Mad Max • 2 days ago
`Now if only the grocery store I use would go to Apple Pay.
`•
`Share ›
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`△ ▽
`
`Robert Wilson
` • 2 days ago
`> Mad Max
`https://9to5mac.com/2020/02/12/apple-pay-revenue/
`
`6/12
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`That the biggest hold up. Stores refusing to turn the NFC reader on in their terminal.
`
`I also discovered while I was at the local hospital for an appointment. The terminal
`
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`Mac
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`don’t even need to say Apple Pay just needs to have the wireless logo on it. The
`vending Machine had the logo on it but no mention of Apple Pay. For a laugh I tried
`with my iPhone and boom got my drink and was on my way.
`•
`Share ›
`
`△ ▽
`
`Luis Artola
` • a day ago
`> Robert Wilson
`Oh that’s been well known for years. I can use apple pay in Mexico thanks to
`that.
`
`△ ▽
`
`•
`
`Share ›
`
`S63AMGCoupe • 2 days ago
`If Apple Pay revenue is headed to being a multi billion dollar business then I wonder what
`Samsung Pay numbers are since you can use that in more places than Apple Pay. This is my
`second iPhone with Apple Pay, on my 7+ I could hardly use it anywhere and on this 11PM
`every time I try to add a card I get told to contact my card issuer and when I do they say they
`can't see or do anything because the phone never sent over any information
`•
`Share ›
`
`△ ▽
`
`Ben Lovejoy
` • 2 days ago
`
`9to5Mac Staff > S63AMGCoupe
`As of October 2018, the latest date I can see:
`
`Apple Pay: 77% percent of mobile wallet transactions
`Samsung Pay: 17%
`Google Pay: 6%
` 2 △ ▽
`•
`Share ›
`
`thebarron
` • 2 days ago
`> Ben Lovejoy
`Samsung & Google pay will be gone by mid-2021 - Guaranteed! You don't
`mess with the leader of smartphone pay - Apple!
` 1 △ ▽ 3
`•
`Share ›
`
`Nick Mahon
` • 2 days ago
`> thebarron
`Dont take predictions from this guy
` 1 △ ▽
`•
`Share ›
`
`Luis Artola
` • a day ago • edited
`> thebarron
`Not necessarily. Both Samsung Pay and Google Pay entered several
`markets before Apple did, and in some of them such as South Korea,
`Mexico or Chile they still dominate because Apple Pay still hasn’t
`entered those markets. As long as there are any such markets, and
`there will surely still be some by mid-2021, Samsung Pay and Google
`Pay will survive.
`•
`Share ›
`
`△ ▽
`
`Tony Turner
` • 2 days ago
`> Ben Lovejoy
`Its all about the credit card transaction fee caps in the EU. EU rollout for Apple
`pay has been deadly slow because of the o.3 per cent and 03 per cent
`transaction fee caps for debit and credit cards in the EU. Apple could just make
`a deal with the credit card networks for a minimal fee and not make a deal with
`banks or just not charge any fees at all in the EU and turn on a access for
`everyone in Europe. On average in Cina and the US Apple gets 0.7 per cent
`transaction fee because the transaction fee cap is much higher and the banks
`have room to give Apple a higher cut of the fee. Apple can't make much money
`in Europe because of the fee limits so they haven't been in any hurry to expand
`there.
`
`△ ▽
`
`•
`
`Share ›
`
`Duel
`> Tony Turner
`
` • 2 days ago
`
`https://9to5mac.com/2020/02/12/apple-pay-revenue/
`
`7/12
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`Apple Pay revenue is heading toward multi-billion dollars - 9to5Mac
`” EU rollout for Apple pay has been deadly slow” it’s available in 56
`countries in EU, deadly slow? :)
`•
`Share ›
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`Luis Artola
` • a day ago • edited
`> Duel
`Yes, deadly slow because it took at least 3-4 years despite that NFC
`contactless was ubiquitous in the region even in 2014 when apple pay
`debuted in the US.
`•
`Share ›
`
`△ ▽
`
`Tony Turner
` • 2 days ago
`> Duel
`In 5 and half years? The rollout has been deadly slow in Euope and the
`merchant transaction fees is why. Just cause you can use Apple Pay
`doesn’t mean that many banks work within said country for Apple Pay.
`Apple Pay worked from day once across Euope of I was using an A
`Merida. Credit card from any merchant that used NFC payments.
`
`https://en.wikipedia.org/wi...
`•
`Share ›
`
`△ ▽
`
`Luis Artola
` • a day ago • edited
`> Tony Turner
`That’s bank transaction fees, though, not merchant fees. Merchants
`don’t pay any fees specifically for accepting apple pay. They only pay a
`fee for using the card networks regardless of whether the payment was
`made using apple pay or a regular card. That’s why apple pay could be
`accepted by merchants in the EU and everywhere else from day one.
`Banks do pay a fee to be able to let their cardholders use apple pay,
`and that’s what delays the international rollout: many banks think
`Apple’s fees are too high.
`•
`Share ›
`
`△ ▽
`
`APPLE
` FEBRUARY 12
`[Update: Now available] Pokémon Home cloud service arriving for iPhone, iPad,
`Android from $1.33/month in February
`
`Michael Potuck - Feb. 12th 2020 6:13 am PT  @michaelpotuck
`
`APPS & UPDATES POKEMON GO
`
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`8/12
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`Apple Pay revenue is heading toward multi-billion dollars - 9to5Mac
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`After teasing its upcoming cloud service back in May, The Pokémon Company and Nintendo have announced
`that Pokémon Home will be launching for iPhone, iPad, Android, and Switch sometime in February.
`
`0
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`    
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`EXPAND FULL STORY
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`
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`Comment: Mac malware is growing, but there are three important riders
`
`Ben Lovejoy - Feb. 12th 2020 5:33 am PT  @benlovejoy
`
`MAC OPINION SECURITY MALWARE
`
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`11 Comments
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`    
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`
`
`Malwarebytes is out with a new report in which it states that Mac malware is growing faster than that for
`Windows.
`
`For the rst time ever, Macs outpaced Windows PCs in number of threats detected per endpoint […]
`
`In total, we saw approximately 24 million Windows adware detections and 30 million Mac
`detections.
`
`That’s getting a lot of headlines today, but there are three key things that need to be understood…
`
`EXPAND FULL STORY
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`
`
`ELECTREK
`
`  
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`Why Wyoming’s coal habit is
`Why Wyoming’s coal habit is
`turning it into an energy
`turning it into an energy
`dinosaur
`dinosaur
`
`First drive: Volvo’s 24,500lb VNR
`First drive: Volvo’s 24,500lb VNR
`electric truck drives better than
`electric truck drives better than
`it has any right to
`it has any right to
`
`Podcast: Tesla goes back to
`Podcast: Tesla goes back to
`market, Tesla making battery
`market, Tesla making battery
`cells, The Boring Company, and
`cells, The Boring Company, and
`moremore
`
`Tesla vehicles conrmed
`Tesla vehicles conrmed
`used in Elon Musk’s Borin
`used in Elon Musk’s Borin
`Company Las Vegas Loop
`Company Las Vegas Loop
`watch…
`watch…
`
`StatusBuddy for macOS lets you monitor the status of Apple services from your
`menu bar
`
`Chance Miller - Feb. 12th 2020 5:00 am PT  @ChanceHMiller
`
`APPS & UPDATES MAC
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`https://9to5mac.com/2020/02/12/apple-pay-revenue/
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`Apple Pay revenue is heading toward multi-billion dollars - 9to5Mac
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`StatusBuddy for macOS is a new app that makes it easy to quickly check the status of Apple’s various online
`services. If an Apple service is having problems, StatusBuddy makes it easy to quickly see the details of the
`issue.
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`EXPAND FULL STORY
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`iPhone production woes pale as coronavirus declared humanity’s greatest threat
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`Ben Lovejoy - Feb. 12th 2020 4:29 am PT  @benlovejoy
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`IPHONE FOXCONN CORONAVIRUS
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`https://9to5mac.com/2020/02/12/apple-pay-revenue/
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`2/14/2020
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`Apple Pay revenue is heading toward multi-billion dollars - 9to5Mac
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`Guides
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`Mac
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`iPhone
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`Watch
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`iPad
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`Music
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`The World Health Organization has put concerns over iPhone production into context by declaring that the
`coronavirus is now humanity’s greatest threat.
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`Initially thought to be less deadly than the SARS outbreak which killed 774 people across 2002 and 2003, the
`WHO now says that the death toll from the coronavirus is already well in excess of this…
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`Apple Watch: How to see notifications, customize, more
`Michael Potuck - Feb. 12th 2020 12:01 am PT
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`9TO5TOYS
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`Snack World: The Dungeon
`Snack World: The Dungeon
`Crawl is now available on
`Crawl is now available on
`Nintendo Switch
`Nintendo Switch
`
`Watch Avenue 5, Game of
`Watch Avenue 5, Game of
`Thrones, more on HBO for
`Thrones, more on HBO for
`$10/mo. (Prime, Reg. $15/mo.)
`$10/mo. (Prime, Reg. $15/mo.)
`
`Friday’s Best Lifestyle Deals:
`Friday’s Best Lifestyle Deals:
`Nordstrom Rack Clear the Rack,
`Nordstrom Rack Clear the Rack,
`Vineyard Vines, Casper…
`Vineyard Vines, Casper…
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`Score the big-boy 10-cup
`Score the big-boy 10-cup
`Brita Pitcher for $27 shipp
`Brita Pitcher for $27 ship
`(Reg. up to $40)
`(Reg. up to $40)
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`https://9to5mac.com/2020/02/12/apple-pay-revenue/
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