(Image for illustration purpose only) (Source: Shutterstock) (Image for illustration purpose only) (Source: Shutterstock)

The reach, usage, and functionality of Apple Pay continues to grow. The NFC payment service on mobile devices is scheduled to go live in the UAE before the end of this calendar year, Apple  CFO Luca Maestri has confirmed. 

Maestri further added that momentum for the service is strongest in international markets, where the infrastructure for mobile payments has developed faster than in the US. 

Apple has announced financial results for its fiscal 2017 third quarter ended July 1, 2017. The company posted 7% YoY increase in quarterly revenue that stood at $45.4 billion and quarterly earnings per diluted share of $1.67. Apple sold 41 million iPhones during the quarter, up slightly from 40.4 million a year earlier. "iPhone 7 was our most popular iPhone, and sales of iPhone 7 Plus were up dramatically compared to 6s Plus in the June quarter of last year. The combined iPhone 7 and 7 Plus family was up strong double digits year over year. One decade after the initial iPhone launch, we have now passed 1.2 billion cumulative iPhones sold," Apple CEO Tim Cook said. 

For its fiscal 2017 fourth quarter, Apple has providing guidance that includes revenue between $49 billion and $52 billion; and gross margin between 37.5 per cent and 38 per cent.