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Apple CEO Tim Cook: 'We're Going To Kill Cash' (cnet.com)

Posted by msmash on from the killing-cash dept.

At a media event on Thursday, Apple CEO Tim Cook said that the Touch ID on the new MacBook Pros will make it incredibly easy for people to do online money transactions. After the event, speaking to reporters Cook made a bold statement about how he sees Apple Pay. CNET reports: "We're going to kill cash," he said. "Nobody likes to carry around cash." He makes most of his purchases with Apple Pay (which is not surprising).Cook's comment comes days after Australia's top banks refused to support Apple Pay, saying that the company has been 'intransigent, closed and controlling'.

10 of 394 comments (clear)

  1. Sorry, Tim... by sconeu · · Score: 5, Insightful

    But you're wrong. There are a metric crapton of us out here who like to carry cash.

    --
    General Relativity: Space-time tells matter where to go; Matter tells space-time what shape to be.
    1. Re:Sorry, Tim... by Anonymous Coward · · Score: 5, Insightful

      Does he really think we all want all of our purchase data tracked and monetized?

      Because no, I don't.

    2. Re: Sorry, Tim... by No+Longer+an+AC · · Score: 5, Insightful

      I agree. I don't even usually pay in cash and my credit card offers me the luxury of spending way more cash than I would ever like to carry around, but $300 is about right. If for some reason my credit card stops working or I lose it (both of which have happened to me before), $300 should be more than enough to see me through to whenever I can fix it.

      I've lost cash before too, but it's only cash and I can only lose as much as I carry on me.

      I'm sure Tim Cook has a different financial outlook and views on spending than I do. I am down to one credit card. I used to have two, but I never used the other one so the bank refused to renew it. I don't trust debit cards and I'm not going to use my (android) phone to pay so it's credit card or cash. Everybody still takes cash.

      There's a commercial that asks "What's in your wallet?". I'm curious. What's in Tim Cook's wallet? Does he even need a wallet or is there an app for everything from his driver's license to his credit cards. Okay, he doesn't need credit cards because he can use Apple Pay.

      But you can't use Apple Pay everywhere, can you?

      Oh right, the summary says he only makes most of his purchases with Apple Pay.

      I have no idea what Tim Cook is worth, but the idea that someone as rich as he probably is thinks he knows how the common man spends money is laughable.

      And I also bet he keeps some cash on hand, just in case.

    3. Re: Sorry, Tim... by Bing+Tsher+E · · Score: 5, Funny

      Tim Cook has people to buy things for him.

    4. Re:Sorry, Tim... by msauve · · Score: 5, Insightful

      "People will want this because of the convenience."

      The convenience vs. using a credit/cash card which doesn't depend on batteries, which is both smaller and lighter than a phone, is accepted in many more places than a vendor unique RFID payment "solution," and comes with long established and legally enforced protections against abuse? Or simply carrying cash, which takes almost no space, weighs next to nothing, and is accepted everywhere?

      --
      "National Security is the chief cause of national insecurity." - Celine's First Law
    5. Re: Sorry, Tim... by DavidRawling · · Score: 5, Funny

      *How does semi-blind grandma aged 90 use Applepay? Should your 4 yr old be given an iPhone to store her pocket money? Should the government give free broadband and laptops to the unemployed just so they can shop for essentials?

      If you're Apple - yes, frankly, everyone should have an iPhone. Even the four year old who needs to learn about money by spending a 10c piece at the grocery store for a paper bag of cheap lollies. She definitely needs a $700 phone.

      If you're Apple.

      For the rest of us it is just a mindless statement by an out of touch rich white guy stroking himself (stroking his ego, get your mind out of the gutter) on stage for applause.

  2. Do not want by Anonymous Coward · · Score: 5, Insightful

    Closing the loop on cash transactions is just another way to ensure everything we do is tracked.

  3. Hi Tim by nospam007 · · Score: 5, Funny

    I'm sorry but my dealer disagrees.

  4. There's something else he's going to kill - Apple by JoeyRox · · Score: 5, Insightful

    Six years into his CEO tenure and all we keep getting is promises about the great products Apple has in the pipeline. That pipeline must be long enough to stretch to the moon because we haven't seen anything great since he's been in charge.

  5. I'm his dealer by ronmon · · Score: 5, Funny

    And I endorse that message!