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

Jennifer Bailey, VP of Apple Apple Pay, speaking to TechCrunch revealed that Apple is working hard on bringing Apple Pay to every “significant” market that the company is in. This includes key markets in Asia and Europe.

“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 publication.

“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,” she said.

In deciding which countries it should introduce to Apple Pay next, Apple first looks at the size of the market and credit card penetration, she explained.

“First, we look at the size of the market for Apple products,” said Bailey. “We also look at credit and debit card penetration and existing contactless payment coverage.

That doesn’t mean Apple rules out any countries where contactless payments haven’t fully taken off yet. “When we bring Apple Pay to market even when contactless is low it will grow—it was four percent in the United States but is now twenty percent,” she said.

“We also work with our network partners, where we can utilize integration with Amex and Visa, to go to market quickly.”

Apple has been consistently expanding Apple Pay to more regions across the world and adding support for more banks, financial institutions and retailers. In the United States alone, Apple Pay supports more than 1,000 banks and financial institutions, and works across 2 million retail locations.

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