In reply to Francois Lecomte.

Yes, but please recall that, while Apple built itself a massive business and the most valuable company on the planet from that innovation, it has way less than 10% unit share worldwide and unless it suddenly becomes a low cost provider of hardware, the vast majority of consumers will not be able to use Apple Pay because they will never own Apple phones or watches. I am very excited for catalysts to the electronic payments business, but highly irritated by those who believe Apple is in any position to garner a significant share of the market with its highly elitist products. Thank you, Karen, for making this clear in your article - first I have seen to point it out.