Wall Street Is Really Into Apple Pay; Apple Watch, Not So Much

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Apple analysts are very excited about the company’s newest product. No, not the Apple Watch — but rather Apple Pay.

“While the new iPhones and watch delivered on high expectations, we believe that Apple Pay was the star of the show and should fuel investor belief that Apple could develop a meaningful payments service that could improve earnings over time,” Gene Munster, an Apple analyst with Piper Jaffray, wrote in an investor note provided to Mashable.

The payments service will use Near Field Communication (NFC) chips to enable shoppers to swipe their phones in stores rather than their credit cards. Apple has partnered with several big banks and credit card companies for transactions on the platform and says the service will work in more than 200,000 retail locations in the United States. Read more…

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