Credit unions and other bill pay providers may be facing new competition from Apple Pay, which has begun allowing some users to pay monthly bills with its iPhone payment technology.
The move, announced back in January and rolling out this month, lets Xfinity customers pay their bills online with Apple Pay. Xfinity provides TV, high-speed internet, phone and home security services and is owned by Comcast, which is a publicly traded media company that owns Comcast Cable and NBCUniversal.
"Services are becoming a larger part of our business and we expect the revenues to be the size of a Fortune 100 company this year," Apple CEO Tim Cook said during the company's quarterly earnings call in January. "Our Services offerings are now driving over 150 million paid customer subscriptions. This includes our own Services and third-party content that we offer on our stores. We feel great about this momentum and our goal is to double the size of our Services business in the next four years."
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