The future of the $ 1 trillion company in Fintech

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Photographer: David Paul Morris / Bloomberg

Apple became the world's first $ 1 trillion company this week and after more than 20 years, the giant who was once almost bankrupt is now the company with the highest market value, as well as being responsible for the charge to transform the technology industry into something more elegant, innovative and easy to use.

But Apple is a claimed fintech? Cook as reported in Quartz Apple Pay transactions have tripled from last year to over 1 billion, thought to be more of the numbers reported for the mobile transactions Square and PayPal.

The company which was formed in a two Steves garage and Ronald Wayne is known for producing anything the customer wants: from computers to music players, from phones to payments, but the technology giant will do more in the tech industry already financial? Or for the fintech industry?

Market value

This week, Apple became the first company to reach a value of $ 1 trillion after a quarter of the best-than-expected results considered because customers shell out $ 999 for the iPhone X. After the Apple shares have seen a boost, the company has set aside $ 100 billion to repurchase shares.

This means that Apple is worth more than all but the 15 richest countries in the world and this is the second time that an audience the company has been evaluated in the 13 figures, after PetroChina, which reached $ 1,000 billion in the Shanghai Stock Exchange in 2007. While Cook said the news was a "significant milestone" it was not the "most important measure" of the corporation's success.

The note continues: "Financial returns are simply the result of Apple's innovation, putting our products and customers first and always true to our values." Cook then said: "Steve [Jobs] he founded Apple on the belief that the power of human creativity can solve even the biggest challenges – and that people who are crazy enough to think they can change the world are the ones who do it. "What is the most important measure of success? Apple?

Trust

Why do people keep buying Apple products? The same reason why most people are still inclined to turn to their bank to open an account rather than try a challenger like Monzo or Starling, even if they offer better rates of interest and customer-friendly services: thanks to trust.

Despite being known as a company that repeatedly cuts power cords and keyboards and interrupting subscription cancellations, consumers still turn to Apple for the best basic products. Alongside this, it seems that more and more people feel like they can not trust Apple with their data, including the controversy on Facebook that share user information. Will people stop using Apple Pay because of this?

Fintech

While Apple has a long history in the technology industry, its foray into finance has been short, to say the least, but it has been fruitful when the iPhone was released in 2007, it was described as a change of game for the industry and led to the launch of Apple Pay, which exploited near field communication technology (NFC) that banks had taken into account to allow contactless payments via smartphones and other gadgets, like watches.

Apple Pay works in terms of trust because it is as secure as contactless payments and when a card is added to an iPhone, details are encrypted and & nbsp; stored as something called the device's account number, or token, which means details are never shared during purchases.

Another level of security was added with Touch ID, Apple's fingerprint technology, which means that if the iPhone was stolen, payments could be stopped by accessing Apple's iCloud or putting the device in "lost mode" in the "Find my phone" app. However, the technology giant has eliminated Touch ID at the start of this year as an authentication point on the iPhone X and welcomed Face ID .

Biometrics

Apple is ahead of other payment service providers because they realized that a form of biometric security is not enough? & nbsp; & nbsp; If biometrics is the panacea that everyone expected to expand, Apple's implementation in products that & nbsp; [19659018] 1 billion people & nbsp; currently use to intensify support for identification technology

What Apple did with the introduction of Face ID is to try and fix something that is not broken. Touch ID has already revolutionized security and privacy and we are accustomed to the idea that your fingerprint is our password. Now, the face is a password and Face ID is the new way to "unlock, authenticate and pay" as & nbsp; Apple & nbsp; claims.

"With Face ID, iPhone X is unlocked only when you are watching it, and is designed to protect against spoofing photos and masks.Face ID information is encrypted and protected by Secure Enclave. it's private: your data does not leave your device and is never backed up on iCloud or elsewhere.

"Face ID uses advanced machine learning to recognize changes in the Internet. ;appearance. Wear a hat. To grow a beard. Wearing glasses You can even use Face ID with many types of sunglasses. So even if your friends do not recognize you, Face ID will do it. For added security, Face ID is alert to your account, which means that you unlock your iPhone X only when you look at the device with your eyes open.

"This means that Face ID can also reveal notifications and messages, keep the screen lit when you are reading or lowering the volume of an alarm or ringtone." W when Wells Fargo and MasterCard started experimenting with biometric payments, the fintech professionals said that a two-step identification process would be ideal. But do people have time for this now?

What's more important to the consumer: quick access or secure access? When trying to make a product easier to use, what do companies focus on most? However, while Apple Pay and other forms of digital payments are available, many still choose to use cash, debit cards or credit cards in the Western world. The new trend seems to be loyalty, offers and discount schemes and Apple seems to have jumped on this bandwagon also

Apple's Future in Fintech & nbsp;

Apple announced an important promotion of the digital wallet this week, some days after the $ 1 trillion revelation, some even claimed that the tech giant had become a major player of fintech. However, Apple does not earn much money from the transactions, reportedly only $ 0.15 for every $ 100 of transactions, but despite this, ensures that customers use their phones for something else.

Meanwhile, credit cards companies earn from 1.5% to 3% for each swipe, so it would make sense to the company for the credit market, having already made significant steps in the market for everyday shopping. It could be said that if Apple entered the credit space, it would increase the number of millennials using credit, something that at the moment does not seem to be under 30 years.

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Photographer: David Paul Morris / Bloomberg

Apple became the first $ 1 trillion company in the world this week and after more than 20 years, the giant that was once almost bankrupt is now the companies with the highest market value as well as being responsible for leading the charge to transform the technology industry into something more elegant, innovative and customer-friendly.

But Apple is a well-established fintech? According to CEO Tim Cook as reported in Quartz, Apple Pay transactions have tripled since last year to more than 1 billion, think to be more than the numbers reported for mobile transactions Square and PayPal.

The company that was incorporated in a garage from the two Steves and Ronald Wayne has been known to produce everything the customer wants: from computers to music players to pay phones, but the technology giant will do more in the field of technology financial? Or for the fintech industry?

Market Value

This week, Apple became the first company to reach a value of $ 1 trillion after a quarter of the better-than-expected results given that customers disburse $ 999 for the iPhone X. After Apple's shares saw a boost, the company put aside $ 100 billion to repurchase shares.

This means that Apple is worth more than all but the 15 richest countries in the world and this is the second time that a public company has been evaluated in the 13 figures, after PetroChina, which exceeded $ 1 trillion on the Shanghai Stock Exchange 2007. While Cook said the news was a "significant milestone", it was not the "most important measure" of the corporation's success.

The note continues: "Financial returns are simply the result of Apple's innovation, putting our products and customers first and always staying true to our values." Cook said: "Steve [Jobs] founded Apple on the belief that the power of human creativity can solve even the biggest challenges – and that people who are crazy enough to think they can change the world are the ones who do it" . What is the most important measure of success for Apple?

Trust

Why do people keep buying Apple products? The same reason why most people are still inclined to turn to their bank to open an account rather than try a challenger like Monzo or Starling, even if they offer better rates of interest and customer-friendly services: thanks to trust.

Despite being known as a company that repeatedly cuts power cords and keyboards and interrupting subscription cancellations, consumers still turn to Apple for the best basic products. Alongside this, it seems that more and more people feel like they can not trust Apple with their data, including the controversy on Facebook that share user information. Will people stop using Apple Pay because of this?

Fintech

While Apple has a long history in the technology industry, its foray into finance has been short, to say the least, but it has been fruitful when the iPhone was released in 2007, it was described as a change of game for the industry and led to the launch of Apple Pay, which exploited near field communication technology (NFC) that banks had taken into account to allow contactless payments via smartphones and other gadgets, like watches.

Apple Pay works in terms of reliability because it is as secure as contactless payments and when a card is added to an iPhone, details are encrypted and stored as something called an account number device, or token, which means details are never shared during purchases.

Another level of security was added with Touch ID, Apple's fingerprint technology, which means that if the iPhone was stolen, payments could be stopped by recording in Apple's iCloud or by placing the device in "lost mode" in the "Find my phone" app. However, the technology giant has eliminated Touch ID at the start of this year as the only authentication point on the iPhone X and welcomed the ID.

Biometrics

Is Apple ahead of other payment service providers because they understand that only one form of biometric security is not enough? If biometrics is the panacea that everyone expected to expand, Apple's implementation in products that 1 billion people currently use intensify support for identification technology?

What Apple did with the introduction of Face ID is trying to fix something that is not broken. Touch ID has already revolutionized security and privacy and we are accustomed to the idea that your fingerprint is our password. Now, the face is a password and Face ID is the new way to "unlock, authenticate and pay", as stated Apple .

"With Face ID, iPhone X is unlocked only when you are watching it, and is designed to protect itself from photo and mask spoofing.Face ID information is encrypted and protected by Secure Enclave Ed is private: your data does not leave your device and is never backed up on iCloud or elsewhere.

"Face ID uses advanced machine learning to recognize changes in the & # 39; appearance. Wear a hat. To grow a beard. Wearing glasses You can even use Face ID with many types of sunglasses. So even if your friends do not recognize you, Face ID will do it. For added security, Face ID is alert to your account, which means that you unlock your iPhone X only when you look at the device with your eyes open.

"This means that Face ID can also reveal notifications and messages, keep the screen lit when you are reading or lowering the volume of an alarm or ringtone." W when Wells Fargo and MasterCard started experimenting with biometric payments, fintech professionals said that a two-step identification process would be ideal. But do people have time for this now?

What's more important to the consumer: quick access or secure access? When trying to make a product easier to use, what do companies focus on most? However, while Apple Pay and other forms of digital payments are available, many still choose to use cash, debit cards or credit cards in the Western world. The new trend seems to be loyalty, offers and discount schemes and Apple seems to have jumped on this bandwagon also

Apple's Future in Fintech

Apple announced an important promotion of the digital wallet week, days after the $ 1 trillion dollars disclosure, some claim that the technology giant has become a major player of fintech. However, Apple does not earn much money from transactions, reportedly only $ 0.15 for every $ 100 of transactions, but nevertheless ensures that customers use their phones for something else.

Meanwhile, credit card companies earn 1.5% to 3% for each hit, so it would make sense for the company to corner the credit market, having already taken significant steps in the market for credit cards. daily shopping. One could say that if Apple entered the credit space, it would increase the number of millennials using credit, something that under 30 does not seem to do at the moment.

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