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Apple CEO Tim Cook says Apple Pay a “success”

Apple CEO Tim Cook said Apple’s new mobile payment system had over 1 million activations in the first three days after it became available, and is now more widely used than any competing payment system.

“We’re already No. 1. We’re more than the total of the other guys,” Cook boasted Monday during a tech industry conference, “and we’ve only been at it a week.” He said Visa and MasterCard officials have told Apple that the Apple Pay system is already seeing more use than similar “contactless” methods of paying for purchases.

While Apple has partnered with major banks and large retail chains including Macy’s Inc., Walgreen Co. and McDonald’s Corp., critics have noted that it’s not accepted by a number of other large chains. Among them are the drugstore chains CVS Caremark Corp. and Rite Aid Corp., which belong to a retail coalition working on a rival system.

Cook also said he plans to talk with Jack Ma, executive chairman of the Chinese e-commerce giant Alibaba, later this week about a possible partnership, although he offered no details. Ma told the same audience earlier Monday that he would be “very interested” in teaming with Apple to bring Apple Pay to China.

Apple CEO Tim Cook says Apple Pay a success

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