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Apple "working rapidly" to expand Apple Pay in Asia and Europe

By Cookie Monster - on 30 May 2016, 12:00am

Apple "working rapidly" to expand Apple Pay in Asia and Europe

 Image source: Apple

Apple is working aggressively to expand its mobile payment service worldwide.

In an interview with TechCrunch, Jennifer Bailey, VP of Apple Pay revealed that the company wants to bring the mobile payment quickly to new markets. It recently announced plans to expand Apple Pay to Hong Kong although there are unconfirmed reports of it launching in France and Brazil.

TechCrunch - “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 us.

Bailey also shared how Apple selects which markets to roll out Apple Pay. The size of the market for Apple products, credit and debit card penetration, and existing contactless payment coverage are cited as the key factors in Apple's consideration.

In the six markets (the U.S, the U.K, Canada, Australia, China and Singapore) where Apple Pay has gone live, Bailey stated that she is "really excited about the momentum". For example, adoption of Apple Pay in China hit three million in the first three days which is the typical rate of adoption per week worldwide. Apple Pay is "seeing incredible user and developer reception" with big consumer tech firms in China too.

Source: TechCrunch

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