Beyond Apple Pay: Tech Giant Prepares to Take on Banks, Fintech

Banks and fintechs will have to get used to it: Apple (AAPL) – Get Apple Inc. Report should soon become their competitor. The tech brand has made services one of its most important growth areas.

“We continue to invest in innovation across our services business, which set another all-time revenue record last quarter and performed even better than we had anticipated,” CEO Tim Cook told analysts during earnings’ call in January.

Apple posted record revenues of $ 124 billion for the three months ending in December. Services revenues, which includes payments, rose 24% to a record $ 19.5 billion. Services gross margin was 72.4%.

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