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Apple working to bring Apple Pay to all ‘significant’ markets

by Killian Bell | May 27, 2016May 27, 2016 4:18 am PST

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Apple is working hard to bring its mobile payment system to all “significant” markets, according to Jennifer Bailey, vice president of Apple Pay. The service made its debut in Singapore this week, and now serves a total of six countries since making its debut in October 2014.

“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 TechCrunch. Right now, in addition to Singapore, Apple Pay is available in the U.S., the U.K., Canada, Australia, and China.

Apple has already announced plans to launch Apple Pay in Hong Kong next, but after that, it’s currently unclear where the service will expand to next. Some reports have suggested that France and Brazil are priorities for Apple, while India is becoming an increasingly important market.

When deciding where to take Apple Pay next, “first, we look at the size of the market for Apple products,” Bailey revealed. “We also look at credit and debit card penetration, and [existing] contactless payment coverage.”

“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,” she added.

Bailey says Apple is pleased with the momentum Apple Pay has since making its debut, and that the service has seen “incredible” user reception in the markets where it has launched so far. In the U.S., the service is now supported by over 2,500 banks, up from just six initially.

TechCrunch

Killian Bell

Killian Bell is a 20-something technology journalist based in a tiny town in England. He has an obsession with that little company in Cupertino...

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