Will Apple Pay Be Available For Federal Government Transactions?

In a report published Tuesday, JPMorgan analyst Rod Hall suggested that Apple Inc.'s AAPL Chief Executive Officer Tim Cook may have said at the White House summit on cybersecurity that Apple Pay will be available for many transactions within the Federal Government beginning in September. Hall wrote that Apple is reportedly working to ensure credit and procurement cards issued to government employees for their expenses can be used with Apple. In addition, the analyst also suggested that initiatives to use Apple Pay with benefits like social security and veteran's pensions are also under way. Bottom line, Hall suggested that Apple Pay will prove to be a "driver of customer loyalty" in 2015 but won't be a major earnings driver.