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Why Apple is the most successful company in history

Mike Elgan | Feb. 17, 2015
Mike Elgan provides insights as to why Apple is way more successful than you think.

We've heard the predictions and promises. For years, companies like Google and others have failed to capture the public imagination with a viable mobile payments system that real people would actually use.

Then along comes Apple with Apple Pay, and it appears to be winning in the U.S. market. Some two-thirds of all contactless payments are now made with Apple Pay.

Apple is winning because it zeroed in on the main barrier to mainstream acceptance: convenience. Simply tapping an iPhone to an NFC reader while holding it with your thumb on the fingerprint reader is all you need to do to buy stuff with Apple Pay.

This is possible only because of the unique fingerprint reader Apple uses, which other companies cannot use because Apple owns it (from their acquisition of AuthenTec).

I believe Apple Pay will grow massively in the next few years to become an even bigger business for Apple than the iPhone.

All of these successes add up to Apple clearly being the most successful company in history. No other company has ever made this much money, won on so many fronts or positioned itself to keep on winning.

 

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