Apple Inc. (AAPL)’s Mobile Payment Platform Will Be Game a Changer: John Sculley

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Apple Inc. (NASDAQ:AAPL) has its mobile payment platform in its media even today and its former CEO John Sculley feels that it will be a game changing product. It’s not just Apple Inc. (NASDAQ:AAPL), but other tech giants also are working on their own mobile payment platform. To make mobile payments a success, consumers need to be convinced that it will be completely safe and secure to do transactions by using their mobiles. Apple Inc. (NASDAQ:AAPL) is facing criticism due to the iCloud leaks and it remains to be seen whether consumers will trust its platform to do transactions. Sculley was on CNBC today, discussing why he feels mobile payments will be beneficial for Apple Inc. (NASDAQ:AAPL).

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“This is Tim Cook’s moment, he has told us almost a year and half ago that he was getting ready for something big and this is it. I have wondered as many people have, whether Apple could do a creative leap and I don’t think it’s the iPhone 6 that is just going to be a phenomenal product, but it’s already a well and certain product, but I think that mobile payments may well be the sleeper today […],” Sculley said.

According to Sculley, mobile payment is regarded as the Holy Grail for e-commerce by everybody. He feels that Apple Inc. (NASDAQ:AAPL) has been putting together pieces for its mobile payment platform, the most important being represented by 800 million iPhone users who have registered their credit cards with the company. He believes the way Apple Inc. (NASDAQ:AAPL) has partnered with credit card companies, combined with NFC and one touch biometric security, this all will lead its mobile payment platform to big success.

As of June 30, 2014, Carl Icahn’s Icahn Capital LP owns over 52 million shares in Apple Inc. (NASDAQ:AAPL).

Disclosure: None

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