E-commerce is playing a major role in Apple’s business
E-commerce may be becoming one of Apple’s most important priorities. The company has, for years now, been involved in the digital and mobile spaces thanks to its iTunes platform. During Apple’s second quarter earnings call this year, CEO Tim Cook noted that the iTunes platform is the company’s second-fastest growing business currently, just behind the company’s hardware interests. E-commerce currently represents one of the company’s most profitable business segments as well, and this is one of the reasons why Apple has become more cavalier with its interests in mobile payments.
Apple may be building a comprehensive e-commerce infrastructure
Recent rumors would suggest that Apple is looking to introduce some mobile payments capabilities to the iTunes platform. The company has made no outright claim that this is the case, but it has been building up an infrastructure that could support its e-commerce efforts. Apple has been acquiring smaller companies that specialize in mobile technology and software. Many of these companies had been participating in the mobile payments space to some degree, whether this participation involved security or the processing of payments.
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iTunes may become the company’s flagship mobile e-commerce platform
The iTunes platform could serve as the culmination of Apple’s recent acquisitions and the company’s interest in mobile e-commerce. With more than 800 million credit cards on file, iTunes is larger than Amazon when it comes to e-commerce potential. The platform is well on its way to reach the 1 billion threshold within the foreseeable future, which will further solidify its position in the commerce space as the leading platform among consumers.
Fingerprint scanner may help Apple avoid risks that exist in the mobile space as well as provide protection for consumers
Apple’s success in the commerce field may lie in its approach to mobile security. The company recently unveiled its Touch ID, which is a fingerprint scanner that is being built into the latest versions of the iPhone device. This adds another layer of security to mobile payments and may help address some of the concerns that Apple has had about mobile e-commerce.