Cook says 2015 is ‘year of Apple Pay’, and he’s right

Nate Swanner - Jan 27, 2015, 5:43pm CST
Cook says 2015 is ‘year of Apple Pay’, and he’s right

Tim Cook expects 2015 to be “the year of Apple Pay”. Saying thier mobile payment option is “off to a very strong start”, the Apple CEO noted that 750 banks and credit unions are Apple Pay partners, now. Cook also let loose another bombshell statistic: Apple Pay accounts for two-thirds of all contactless payments using Visa, American Express, or MasterCard. Furthermore, mobile payments at Whole Foods have increased 400% on the back of Apple Pay. Other retailers are experiencing similar success with the platform.


Panera Bread, another Apple Pay launch partner, reports that 80% of contactless payments in their stores are via Apple Pay.

News form earlier today may have Apple Pay the star of the show next time Apple holds an earnings call. If their partnership with USA Technologies has the reach it promises to, Apple Pay could be the payment method you use next time you grab a drink form a vending machine. Chipotle is also interested in working with Apple to bring mobile payments more central to their operation.

Chevron is on board, as is Disney. Global job postings suggest Apple Pay is going to be a worldwide platform soon, and it already covers 90% of credit card volume in the United States.

You can even book a hotel room with Apple Pay. Wells Fargo will actually pay you to give it a shot!

Square is also promising Apple Pay will come to their point-of-sale platform soon, which could have the deepest reach on the small retail level. For being available on two phones, and a wearable soon, Apple has impressive reach with Apple Pay.


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