Apple Pay Activates 1 Million Credit Cards In 72 Hours

Apple Inc. (NASDAQ: AAPL) CEO Tim Cook announced early Apple Pay results at the Wall Street Journal Digital Conference Monday.

Recode.net reported Cook’s comments and noted that, "Apple Pay users activated more than one million credit cards in the first 72 hours after the service was launched...marking a substantial first step for Apple’s foray into the payments business"

The Apple Pay platform has been touted as highly secure, but has also faced resistance from some retailers.

Kurt Wagner at recode.net commented that for "Apple, it’s the first step in a new business line, and speed bumps like evolving retail partnerships are bound to crop up. But early adoption of Apple Pay means that people are at least intrigued enough to experiment with mobile payments, an area that many have already operated in but no one has really nailed."

Apple recently traded at $106.30, up 1.15 percent.