Jennifer Bailey, Apple’s vice President of Internet services, spoke about the company’s ambitions for Apple Pay at the recent fortune brainstorm tech conference 2018– the service was seen by Apple as a pivot to eventually completely replace People’s Physical Wallets. Apple has been trying to increase the use of this payment system since the launch of the Apple Pay mobile payment system in 2014.
To that end, Bailey Shared the system at the brainstorm tech conference.Apple estimates that by the end of the year, about 60 percent of U.S. retail locations will start using Apple Pay.
It also shows that Apple is not only eager to get more people to use the payment system, but will also gradually launch more features, so Apple Pay will become a mobile payment wallet instead of a debit Card.
“in fact, This mobile payment system will make people love their iPhones,” Bailey said at the Meeting. This is why we have to carry out this Promotion. ” In addition to using Apple Pay to replace items such as credit cards, the digitization of transit visas is something Apple is interested in, Bailey Said. That’s why 12 of the world’s largest cities now have access to apple wallet’s payment technology for transit.
In addition, the Walgreens chain store in the United States has created a loyalty program that integrates Apple Pay.
You can also use Apple Pay to get preferential deals for nudu at some major league stadiums in the United States. Some colleges in the United States have also begun making student CARDS that function as apple wallets.
Apple company is still thinking more about how Apple Pay mobile payment systems are used, and how to replace physical wallets with wallet and mobile wallets. “in fact, We can totally imagine that there are many areas where this technology can be exploited,” Bailey said at the Meeting. Unlike a real hotel check-in card, you can check in via the app, and you’ll get a digital key to the ROOM. This technique can be used in hospitals and hotels. ”
All these efforts have not yet achieved the desired results in part because of the technical infrastructure of the United states, and the development of the payment industry is lagging far behind in many parts of the WORLD.
Yet even as the number of users grew, mobile payments remained a niche product, accounting for just 0.6% of debit card transactions in the second quarter, according to the data.
But mobile payments are growing fast. Indeed, debit card transactions through mobile wallets have grown by 75 per cent year on year. Banks are expected to push consumers to use mobile wallets more and more by making faster payments and improving the consumer experience. Mobile wallets will remain an important strategy for issuers to increase card usage.