Apple ‘working rapidly’ to extend Apple Pay to more countries | iLounge News

Apple ‘working rapidly’ to extend Apple Pay to more countries

Apple is “working rapidly” to launch Apple Pay farther and wider in the European and Asian markets, Jennifer Bailey, Apple’s VP of Apple Pay revealed an interview with TechCrunch. While Apple Pay is available in only six countries right now — the U.S., the U.K., Canada, Australia, China, and Singapore — Bailey stated that Apple’s goal is to have Apple Pay available in “every significant market that Apple is in. Bailey confirmed Apple’s plans to expand the service to Hong Kong and across the Asia Pacific region, noting that the company is “talking to many partners” to determine how rapidly the service can be rolled out elsewhere. Leaks in February indicated that France and Brazil may also be on the list for this year, and Apple CEO Tim Cook hinted earlier this month that Apple may also be considering a rollout in India soon.

In the interview, Bailey also provided a bit of insight into Apple’s priorities when looking for new markets for Apple Pay expansion, noting that the company looks at the “size of the market for Apple products” first, and then considers overall “credit and debit card penetration” and the availability of existing contactless payment coverage. However, she also noted that contactless payment availability is not specifically a requirement, citing the example of the initial U.S. rollout, where 4 percent of merchants provided contactless payment technology when Apple Pay was launched (that number has since grown to 20 percent). Bailey also noted that Apple works closely with payment partners such as Amex and VISA to get to market more quickly, as evidenced by the initial rollout in Canada last fall, where AMEX support allows Apple to leapfrog the longer negotiations and technical timelines required by the Canadian banks. Apple also plans on enhancing Apple Pay in markets where the service is already live, not only adding support for more banks and cards, but also introducing loyalty program support and online/in-app payments in markets where those are not yet available.


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