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Obama Gave Apple Pay potentially $26.4 Bn+ each Year in Transactions to Process

Bloomberg reported today that U.S. President Barack Obama arrived in Silicon Valley bearing gifts for Tim Cook: A seal of approval for Apple Pay.

The White House announced Friday that Apple Inc.’s mobile-payment system will be enabled for users of federal-payment cards, including Social Security and veterans benefits that are paid out via debit cards. The deal includes the Direct Express payment network and government cards issued through GSA SmartPay, which handles more than 87.4 million transaction worth $26.4 b ...

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