Since its introduction in 2014, Apple Pay has gradually become a more than common way to make payments on a day-to-day basis. Every week, Apple updates the list of compatible banks and credit institutions mainly in the United States, where there are currently more than a thousand are supported.
According to Jennifer Bailey, Apple's vice president and head of Apple Pay, announced at NFR 2018 that it is being held these days in New York as the iPhone has changed how stores work and how the company continues to expand its efforts to improve the market's mobile payment system.
At Jennifer's "The Modern Shopping Experience" conference, Bailey presented some exciting news about the growth and adoption of Apple Pay, as well as Apple's current and future ambitions in the mobile payments industry. According to Bailey, iPhone leads purchases made by smartphones and tablets with a 25% share in the United States. The growth rate in mobile transactions is four times higher than electronic transactions carried out through a computer and ten times higher than traditional retail transactions.
A similar situation is occurring outside the United States. China, for example, has seen how 80% of electronic transactions are carried out with mobile devices. At the time of its launch, Apple Pay was limited to 3% of stores. Today, it is already available in 50% of all stores throughout the United States. Beyond the social acceptance of this platform, Apple Pay has become a fundamental role in the rise of commerce through mobile devices among retailers thanks to its simplicity and convenience.
