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Many iPhone users already buy songs and applications from iTunes, which has made it become a significant global billing platform, and provides a notable proportion of revenue for Apple (4.1% of its total quarterly earnings for Q1, see http://www.fiercemobilecontent.com/story/apples-itunes-revenues-top-11-billion-q1/2011-01-19) If iPhone, iPad and iPod users adopt widespread use of NFC for purchase of everyday groceries and general retail goods, then iTunes could quickly curve a huge slice out of the VISA and Mastercard revenue stream.

Pages: 103

Publisher: Springer; 2014 edition (December 23, 2014)

ISBN: 3662459469

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