Tim Cook Discusses Mobile Payments Interest in WSJ Interview

Following a robust earnings announcement from Apple, CEO Tim Cook shared insights in a recent discussion with the Wall Street Journal. During this conversation, Cook emphasized the company’s commitment to quality over speed in product development.

Cook stated, “Achieving excellence takes time.

There are numerous examples of products in the market that were rushed and lack thorough development, which often leads to poor performance.”

While Cook remained tight-lipped about specific future offerings, he highlighted Apple’s significant base of nearly 800 million consumer credit cards and expressed interest in the mobile payments sector.

“Mobile payments are fascinating to us. With almost 800 million iTunes accounts, most with credit cards, and the widespread use of Touch ID for purchases, it’s a sector we find intriguing.

Despite the activity in this space, the fact that we all still carry physical wallets suggests it’s not yet perfected,” Cook noted.

Cook has previously mentioned mobile payments during earnings calls, describing the concept as “intriguing” and a key reason for developing technologies like Touch ID.

According to a report by Re/Code, Apple has been actively recruiting industry experts for roles specifically aimed at advancing its mobile payment technologies.

“Apple is exploring significant expansions in mobile payments, seeking leaders for product and business development roles focused on leveraging the vast number of credit cards linked to iTunes accounts,” the report states.

In conclusion, Cook expressed optimism about Apple’s future product pipeline, stating, “I am extremely excited about our upcoming products. They are closer to launch than ever before.”

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