The Apple Pay push into Russia continues the Cupertino, CA-based company's worldwide rollout of the service. Apple Pay is now in 10 countries since its first launch in 2014, CNBC reports.
Russian Sberbank (SBRCY) customers who hold MasterCard (MA) credit cards will be the first in the country to be able to use the payment service.
The initial retailers accepting the service in Russia include BP (BP), electronics retailer Media Markt and supermarket chain Atak, CNBC noted. Fast-food chain Burger King, which is owned by Restaurant Brands (QSR), will also soon accept the service.
Earlier this year, Apple CEO Time Cook said the service is gaining traction in the U.S. It accounts for three of the four of contactless service payments in the U.S., CNBC added.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B+.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins, increase in stock price during the past year and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: AAPL