Earlier this week we noted that while CNN seemed to be confused as to why Apple's CEO Tim Cook would be speaking about security at the Cybersecurity Summit in California, we thought it was pretty clear. We stated that Apple Pay is already a major force in the digital payment market and many in this field have praised Apple for their Apple Pay Security measures. This is one of the key topics at Friday's event so there should be no confusion on the matter at all. Well, as the video above confirms, we were right.
Beyond CNBC's video, Bloomberg reports that "The White House announced Friday that Apple Inc.'s mobile-payment system will be enabled for users of federal-payment cards, including Social Security and veterans benefits that are paid out via debit cards. The deal includes the Direct Express payment network and government cards issued through GSA SmartPay, which handles more than 87.4 million transaction worth $26.4 billion each year, according to the General Services Administration."
Richard Crone, chief executive officer of Crone Consulting LLC, stated that "It has big promotional value for Apple. It makes it look like the federal government is endorsing Apple Pay."