Apple dropped a bomb on your credit card company

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The Motley Fool The Motley Fool Apple Just Dropped a Bomb on Your Credit Card Company By: David Hanson Dear Opportunistic Investor, $18 million a day. That's how much money American Express, Capital One, Chase, Discover and all the other credit card companies stand to lose thanks to an unprecedented shift in the way Americans are using their credit cards. You've probably heard a lot about this monumental development already...yet I can almost guarantee you haven't heard the full story. It started last year when Apple CEO Tim Cook unveiled Apple Pay - the highly anticipated system that lets you use your iPhone in place of a credit card. Already, more than 750 banks are allowing their customers to use Apple's revolutionary payment system. They're happily giving up as much as $18 million per day - that's an astonishing $6.57 billion per year - just to be a part of Apple's payment revolution. And now, from Whole Foods to Panera to Target and everything in between, more than 220,000 merchants across the country are falling all over themselves to partner with Apple. But here's the thing... Apple isn't even responsible for developing the technology that makes mobile payments possible... And along with Google, Microsoft, Samsung, Nokia, Motorola, and just about every other major phone manufacturer, they're now paying the company that invented this technology hundreds of millions of dollars each year to get it inside their phones. So the million dollar question is -- who is the company supplying this amazing component to these Titans of Technology? Well, we've been digging into this exciting story for months and we've got the answer.   Click now for your free report   here's to you and your family's wealth, David Hanson Investment Analyst, The Motley Fool   This is a promotional message from The Motley Fool | 2000 Duke St. | Alexandria, VA 22314 Legal Information. Copyright © 1995-2015 The Motley Fool. All rights reserved. To prevent this from getting swept up by overzealous email filters, add Fool@foolsubs.com to your address book. If you no longer wish to receive this email, please unsubscribe now. You may also add, change, or remove any other Motley Fool email subscription.

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