Apple Says It's 'Working Rapidly' to Have Apple Pay 'In Every Significant Market'

Apple Says It's 'Working Rapidly' to Have Apple Pay 'In Every Significant Market'

Posted by · 7514 views · Translate

Apple says it is 'working rapidly' to have Apple Pay 'in every significant market' as the mobile payments solution expanded in Singapore, reports TechCrunch. Apple VP Jennifer Bailey spoke to the site this week about the company's plans.

Apple has already announced plans to expand the service to Hong Kong but has yet to reveal which market will be next. Apple Pay is currently live in the U.S., Canada, the UK, Australia, Singapore and China.

“We’re working rapidly in Asia and also in Europe, our goal is to have Apple Pay in every significant market Apple is in,” Bailey told the site.

There have been rumors that France, Brazil and possibly India would be next.

“We have announced Hong Kong [and], across the [Asia Pacific] region, we’re talking to many partners and banks and evaluating how quickly we can bring Apple Pay to new markets,” Bailey said.

Here's some of the things Apple considers when assessing expansions.

“First, we look at the size of the market for Apple products,” says Bailey. “We also look at credit and debit card penetration, and [existing] contactless payment coverage. [But] when we bring Apple Pay to market even when contactless is low it will grow — it was 4 percent in the U.S. but is now 20 percent. We also work with our network partners, where we can utilize integration with Amex and Visa, to go to market quickly.”

Apple Pay reached three million provisions inside its first three days in China and is adding about one million new users per week worldwide.

Read More

Apple Says It's 'Working Rapidly' to Have Apple Pay 'In Every Significant Market'

Stealther - May 29, 2016 at 12:50am
Apple Pay may be good but compare to China's WeChat payment, it is way behind. basically anyone with WeChat can pay anyone without any NFC scanners, work with IOS and Android. The payer and payee can be across the world. Some other features such as 1. TOP up mobile phone credits 2. Pay your utilities bill 3. Purchase cinema ticket 4. Book the kuaidi cars (Like Uber, it's the company Apple invest USD1 billion into) 5. Make payment for credit card bills 6. Purchase bus & train tickets 7. Donate to charity and many many other add on function to name a few. Basically this system is now functioning across the whole China. I wonder how Apple Pay is going penetrate to China. I doubt they can... Maybe they will buy up WeChat
PHUKAI - May 28, 2016 at 2:43pm
Soon this will prove how wrong A55am5ung is.