Apple Inc. (AAPL) Comes Up With Official Explanation Of iPhone Software Glitch, Cook Takes On Retailers For Declining Apple Pay

Apple Inc. (NASDAQ:AAPL) offered its first official explanation for the software glitch that left thousands of iPhone users disconnected. At the same time, Apple CEO took on retailers for declining Apple Pay payments citing huge list of merchants ready to sign up.

Greg “Joz” Joswiak, product-marketing executive for Apple, explained the software bug stating that the problem existed in the way software was “wrapped” instead of the update itself. The problem was identified after a week of the launch of iPhone 6 when users complained about interference with the cellular network and crashing applications because of the update. Joswiak said,

“It had to do with the way the software was being sent over servers. It was the way software was being distributed.”

Apple (AAPL)

When asked about the quality assurance process of the company, Joswiak said,

“Whenever you’re pushing software and doing some very advanced things, you’re going to have some mistakes. What we try to do is very quickly fix them.”

Apple Inc. (NASDAQ:AAPL)’s CEO, Tim Cook, fired back on retailers for rejecting Apple Pay for processing customer transactions. While talking about the payment method, Cook added that more than 200,000 credit card users registered with the service within 72 hours and the company is already processing more transactions than its all “combined” rivals are.

Earlier this week, CVS Health Corp (NYSE:CVS) and Rite Aid Corporation (NYSE:RAD) declined Apple Pay for further transactions in favor of a payment method developed by Merchant Customer Exchange (MCX). Cook said,

“We’ve got a lot more merchants to sign up, we’ve got a lot of banks to sign up and we’ve got the rest of the world.”

Apple Pay is a contactless payment technology that works on near-filed communication technology and allows users to make a payment by shaking the iPhone.

This article has been written by Prakash Pandey.

Is Apple Inc (AAPL)’s Apple Pay and VeriFone Systems Inc (PAY) Relationship Truly Symbiotic?

Apple Inc. (AAPL)’s Troubles To Rise Further As CVS Health Corp (CVS) And Rite Aid Corporation (RAD) Decline Apple Pay

Best Universities On the Planet

Fastest Growing Economies in the World

Related posts


Warren Buffett's Best Picks

Warren Buffett's these stock picks will crush the market over the next 12 months. Get our report FREE by becoming a member now