April 28, 2014
During Apple’s most recent earning call, CEO Tim Cook said that iTunes is now one of the main drivers of the company’s business. It shouldn’t come as much of a surprise then that Apple now holds quadruple the number of accounts as Amazon does, according to Business Insider. Using data from industry analyst Horace Dediu, the report notes that “Apple’s wealth of credit card information could end up giving the company a huge advantage if it eventually decides to work on some sort of mobile wallet.”
A comparison of iTunes accounts and Amazon Active Accounts. pic.twitter.com/ClLPUvserV — Horace Dediu (@asymco) April 28, 2014Apple has long been rumored to be working on its own mobile payments system. Back in January, Cook said during a financial results conference call that mobile payments was one of the thoughts behind the Touch ID functionality introduced with the iPhone 5s. See also: Apple Is Continuing A Push Into The Mobile Payment Industry, WSJ: Square Is Running Out Of Cash And Looking To Sell, and Apple Has 1.67 Billion Reasons To Introduce A Touch ID Mobile Payment System.