Eddy Cue explains the ‘credit card trick’ that built Apple's $109 billion services business
Apple's $0.99 song pricing faced a financial hurdle due to credit card fees. Services chief Eddy Cue revealed a clever workaround: batching multiple purchases into a single transaction to minimize fees. This strategy, still used today for App Store and Apple Music, ensured profitability and fueled the massive success of iTunes, laying the groundwork for Apple's $109 billion services empire.
Apple's $0.99 song pricing faced a financial hurdle due to credit card fees. Services chief Eddy Cue revealed a clever workaround: batching multiple purchases into a single transaction to minimize fees. This strategy, still used today for App Store and Apple Music, ensured profitability and fueled the massive success of iTunes, laying the groundwork for Apple's $109 billion services empire.
