B2B Payments

How Big Is Enterprise For Apple?

Apple’s iPhone 6s sales are on fire. The mobile giant said it is on path to surpass the 10 million unit sales seen on the first weekend of the iPhone 6 launch last year. But while the market remains abuzz about the latest gadget, Apple CEO Tim Cook revealed a bit of information on another side of the company.

In an interview published earlier this week with Box CEO Aaron Levie, Cook provided a dollar figure to how much the enterprise is worth to his business: $25 billion.

“If you look at the last 12 months, [enterprise sales for Apple were] $25 billion,” the Apple CEO said. “This is not a hobby. This is a real business.”

[bctt tweet=”“This is not a hobby. This is a real business.””]

According to reports by USA Today published Tuesday (Sept. 29), $25 billion amounts to about 14 percent of Apple’s revenue over that same period.

Reports said Cook also mentioned Apple’s reputation for heightened mobile security, a unified operating system and the company’s progress in innovation that makes the firm’s devices attractive to corporations as much as to consumers.

The remarks signaled to some market experts that Apple will be ramping up its enterprise efforts in the months and years to come, refusing to ignore such a large portion of its customer base.

While it didn’t get the same fanfare as the iPhone 6s, Apple did roll out a new iPad aimed for enterprise users, while industry experts also pointed to new features in Apple’s just-released iOS update that could be beneficial to business users.

B2B payments may also get a bump from Apple Pay. Just weeks ago, American Express announced that its commercial cards will now be able to sync up with iPhones, a move that made the firm the first major corporate card firm to do so.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.