Even Without Payments, Apple Inc. (AAPL)’s Passbook Is Taking Off

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Apple Inc. (NASDAQ:AAPL) gave no hints of a payments service at WWDC earlier this month, but considering Passbook’s early success, this is an important opportunity for the Mac maker. Like most of its services, payments will likely generate negligible operating income and instead will be positioned as a complementary offering that spurs device sales.

Google Inc (NASDAQ:GOOG) Wallet has mostly failed to make a dent in the payments market, leaving a wide opening for Apple.

The article Even Without Payments, Apple’s Passbook Is Taking Off originally appeared on Fool.com.

Fool contributor Evan Niu, CFA, owns shares of Apple and Starbucks. The Motley Fool recommends Amazon.com, Apple, Google, and Starbucks. The Motley Fool owns shares of Amazon.com, Apple, Google, and Starbucks.

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