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The introduction of the Apple Pay system marked Apple's entry into the fintech industry from "summary" of STEVE JOBS by WALTER. ISAACSON
In 2014, Apple took a significant step towards expanding its reach beyond the realm of technology and into the world of finance. The company introduced a new payment system called Apple Pay, which allowed users to make purchases using their iPhones or Apple Watches. This move was not just about convenience; it was a strategic decision that marked Apple's official entry into the financial technology, or fintech, industry. The introduction of Apple Pay was a carefully planned move that capitalized on Apple's existing customer base and brand loyalty. By leveraging the widespread popularity of iPhones and other Apple products, the company was able to quickly establish a foothold in the rapidly growing fintech market. With Apple Pay, users could securely store their credit and debit card information on their devices and make payments with a simple touch or tap. This foray into fintech was not just a...
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