Apple’s payment business is heavily underappreciated among investors, said Evercore ISI analysts in a note, citing positive feedback from their conversations with an expert who previously worked building payments products at Apple service could help close this gap, as many online retailers seek to offer a digital wallet and BNPL within a single solution.
“If Apple can narrow this gap, we think a large portion of it’s 1B+ iPhone users would prefer to simply log into Apple Pay when making a purchase rather than re-entering payment information on every website they use,” the investment firm concluded.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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