O'Grady's PowerPage » Finance

American Express states that Apple Pay will launch in Canada on Tuesday, November 17th

Posted by:
Date: Monday, November 16th, 2015, 08:02
Category: Apple Pay, Finance, iOS, News

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For those of you to the north, Apple Pay will launch in Canada starting tomorrow.

Apple Pay is expected to expand to its third market this week, launching in Canada this Tuesday, November 17th. As previously announced, Apple Pay will be launching through an exclusive partnership with American Express, initially limiting the reach of Apple’s payments service in the country.

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Rumor: Apple looking to create person-to-person payment functionality with Apple Pay

Posted by:
Date: Thursday, November 12th, 2015, 08:34
Category: Finance, Rumor

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Apple could be moving Apple Pay into the person-to-person payments market.

The current word on the ground is that Apple has spoken with J.P. Morgan Chase, Capital One, Wells Fargo, and U.S. Bancorp about the system. It’s not clear how far those talks have progressed, and many technical details remain unsettled.

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Apple looking into potential 4.15 million square foot site north of San Jose

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Date: Wednesday, November 4th, 2015, 13:37
Category: Finance, News

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You can do a lot with 4.15 million square feet.

Or at least that’s what Apple might be up to given its inquiry into a campus north of San Jose. The new structure, if completed, would be larger than the “spaceship” campus Apple has underway.

The draft agreement between Apple Inc. and the city of San Jose, which is not yet completed, will come before the city’s Planning Commission later this month, officials said. It would lock in development rights — and expectations for both sides — for the next 15 years in an area that sprawls across 86 acres north of Highway 101 across from the Mineta San Jose International Airport.

The area Apple has been focused on now sprawls over roughly 86 acres in north San Jose. The sites would be subject to a development agreement between Apple and the city, spelling out how the land could sprout buildings. But the deal does not signify an actual project.

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Apple discloses $1.69 billion increase in “Other Products” division, could be directly attributable to Apple Watch sales

Posted by:
Date: Thursday, October 29th, 2015, 08:13
Category: Apple TV, Apple Watch, Finance, iPad, iPod, News

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Although Apple has yet to disclose any specific sales numbers for the Apple Watch, they may have tipped their hand a bit with the company’s most recent financial report.

A figure within the report states that Apple’s “Other Products” division climbed by more than US$1.69 billion in sales by the end of September.

As part of the company’s quarterly 10-Q filing with the U.S. Securities and Exchange Commission, Apple said that more than 100 percent of the year-over-year revenue growth in its “Other Products” category was attributed to the Apple Watch.

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Apple cites $11.1 billion profit, $51.5 billion in revenue in Q4 2015 earnings report

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Date: Wednesday, October 28th, 2015, 08:29
Category: Apple Watch, Finance, iPad, iPhone, News, Wearables

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Once again, Apple just made a whole lotta moolah.

The company was about to beat its expectations for its fourth quarter, chalking up an US$11.1 billion profit on US$51.5 billion in revenue. Apple cited the iPhone as its biggest moneymaker, reporting 48.05 million iPhones sold, up from 39.27 million in the same quarter a year ago. More specifically, the company made US$32.21 billion in revenue from iPhone sales alone.

Analysts polled by Fortune were expecting Apple to sell 48.7 million iPhones in the quarter. Analysts also expected Apple to earn $1.88 per share, up from $1.42 a share in the same quarter last year. As for revenue, analysts wanted Apple to make $50.8 billion, while Apple itself expected to pull in $49 billion to $51 billion. The company handily beat all of those expectations.

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Chase announces Chase Pay payment system, will be modeled off MCX’s CurrentC method

Posted by:
Date: Tuesday, October 27th, 2015, 08:31
Category: Finance, iOS, News, retail, Software

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There’s always money to be made in the payment service industry.

A new report has announced that Chase Chase CEO of Consumer and Community Banking, Gordon Smith, who announced “Chase Pay” at the Money20/20 payments conference in Las Vegas.

The Chase Pay service will work via QR code instead of over NFC, allowing customers to make purchases with their smartphones by showing a QR code to a cashier. The method is similar to MCX Consortium’s upcoming CurrentC platform, with whom Chase is partnering for its payments service.

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More than 70 U.S. banks and credit unions added to Apple Pay

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Date: Wednesday, October 21st, 2015, 08:28
Category: Finance, News, retail

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The good news is that Apple picked up yet another huge wave of newly added banks and credit unions in the United States that now officially support Apple Pay. Apple has added over 70 additional participating banks to its list of active partners including HSBC in the US.

Here’s the list and it is mighty:

Achieva Credit Union

Alcoa Pittsburgh Federal Credit Union

Alliance Credit Union

AmeriServ Financial Bank

APCO Employees Credit Union

Bank of American Fork

Bridgewater Savings Bank

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Additional 46 banks and credit unions now support Apple Pay, bringing total to more than 425 in U.S.

Posted by:
Date: Tuesday, August 4th, 2015, 08:00
Category: Finance, News

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With any luck, your bank or credit union is now among those supporting Apple Pay.

Apple has once again updated its Apple Pay web site, adding 46 more banks and credit unions to the list of institutions whose customers can set up credit and/or debit cards with the service. The new additions increase the number of banking institutions in the U.S. supporting Apple Pay to over 425 and international support has begun over in the U.K.

The new list of banks and credit unions include the following:

1st United Services Credit Union

Align Credit Union

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Apple Pay now supports HSBC, First Direct banks in UK

Posted by:
Date: Tuesday, July 28th, 2015, 07:37
Category: Finance, News

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Apple Pay has just hit the “international” category.

Apple updated its Apple Pay web site, announcing support for both UK banks HSBC and First Direct. Both banks were announced as starting partners for the UK branch of Apple Pay, but were delayed until late July at the last minute.

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Apple posts Q3 2015 earnings, cites $10.7 billion profit on $49 billion in revenue

Posted by:
Date: Tuesday, July 21st, 2015, 14:53
Category: Apple TV, Apple Watch, Finance, iPad, iPhone, iPod, News, Wearables

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US$49 billion in revenue and a US$10.7 billion profit isn’t chump change.

And that’s the amount that Apple reported for its Q3 2015 earnings today, complete with figures that included profits from sales of the Apple Watch, which was launched on April 24th.

During today’s announcement, the company cited revenues of US$37.4 billion and a net profit of US$7.7 billion, or US$1.28 per diluted share, in the year-ago quarter. Gross margin was 39.7 percent compared to 39.4 percent in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue.

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