Photo by iphonedigital/Flickr
Tim Cook, the boss of Apple, has stated that he wishes to see the end of cash within his lifetime.
Cook was talking at the shareholder meeting of the biggest tech company in the world in California last Tuesday evening.
However, he revealed that Apple Pay and its efforts to get people to opt for digital instead of cash had not taken off in the way that he had thought it would.
The 57-year-old boss stated: “Mobile payments have taken off slower than I personally would have thought if I were sitting here a few years ago.”
The tech giant also added a new feature with the recent iOS update that allows users of the iPhone send cash to each other through iMessage.
The tech company has never disclosed the exact number of users that Apple Pay has or the amount of revenue that the feature brings in.
In the Q&A with shareholders, Cook also said that the wearables division of the company which includes AirPod headphones and the Apple Watch was already approaching the size of a Fortune 300 firm. In 2017 he said that it was already the size of a Fortune 500 company.
Cook said that the tech titan is also preparing to make more acquisitions in 2018. Last year, Apple was able to snap up 19, including Shazam, a British tech startup.
Cook also poured cold water on the idea of giving special dividends for investors, saying that he was “not a fan.”
Cook stated: “I don’t think it helps the company and probably doesn’t help long shareholders either. Annual increases in the dividend [are] something that this board and this management team are committed to doing.”