Payments News

Eye on Mobile: Apple Pay’s Growth Surge Continues; Mitek Cool to Buyout Offer

Nov 01, 2018

Apple Pay continues to gain strong adoption, Apple Inc. chief executive Tim Cook reported Thursday. Also on Thursday Mitek Systems Inc., a small but prominent provider of software for mobile remote deposit capture and identity verification, gave a decidedly cool response in its first comments about a $425 million buyout offer.

Cook, who reviewed results for Cupertino, Calif.-based Apple’s fourth quarter of fiscal 2018 ended Sept. 29, didn’t give a transaction number, but three months ago revealed that Apple Pay passed the 1-billion transaction mark in the fiscal third quarter ended June 30. Now the transaction count apparently is well north of that.

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