An important Apple Pay feature used daily overseas by millions is heading to the states this year

An important Apple Pay feature used daily overseas by millions is heading to the states this year
During this morning's Apple Show Time event at the Steve Jobs Theater on Apple's Cupertino campus, Apple CEO Tim Cook took some time to discuss the company's mobile payment system, Apple Pay. In the U.S., 70% of retailers accept Apple Pay, and in Australia, an incredible 99% of merchants in the country allow their customers to pay with the service. In Britain, the acceptance rate is 85% and it is 80% in Spain.

Standing in front of a map that showed the percentages of establishments that accept Apple Pay in various countries, Cook told those assembled that Apple Pay is the "simplest, most secure, private way to pay." The executive noted that Apple Pay's growth "is off the chart" and that it is on pace to handle 10 billion transactions this year alone. "We're looking forward to a future where all payments are made this way," Cook said. The executive pointed out that by the end of this year, the mobile payment service will be available in more than 40 countries.

Cook also said out that in six countries (London, Moscow, Tokyo, Beijing, Shanghai and Guangzhou), millions of iPhone and Apple Watch owners use Apple Pay daily to quickly pay and board a mass transit vehicle like a bus or a train. And later this year, the same feature will be available in the U.S. Commuters in Portland, New York City and Chicago will be able to use Apple Pay to get to and from work a lot easier.

Apple reportedly collects 15 cents on every $100 rung up using Apple Pay

Apple Pay belongs to Apple's services unit, which the company is trying to take from the $25 billion in revenue it garnered back in 2016, to $50 billion in revenue next year. It is Apple's second highest grossing business unit and its most profitable. During the first fiscal quarter, services accounted for nearly $11 billion in revenue, and the announcement today of Apple's news, games and video subscription services as well as the Apple Card, should only help the company reach that goal. With iPhone sales struggling, Apple is smart to focus on the needs of the 1.4 billion iPhone units that remain active worldwide. Other businesses besides Apple Pay that are under Apple's services umbrella include iTunes, App Store, AppleCare+, Apple Music and more.

Reportedly, Apple receives .15% of the value of each transaction that is handled with Apple Pay. In other words, for each $100 rung up using the service, Apple gets 15 cents. That doesn't sound like a lot until you think about all of the people worldwide who use Apple Pay every time they shop.

Apple Pay requires an iPhone with NFC capabilities and either Touch ID or Face ID to verify the identity of the user. That means those with an iPhone 6 or higher, the Apple Watch, all iPad Pro models, iPad Air 2 and later, and the iPad mini 3 and later can use Apple Pay.



1. midan

Posts: 2971; Member since: Oct 09, 2017

It's weird how late US is with this.

4. Vancetastic

Posts: 1510; Member since: May 17, 2017

You don’t live in the US, so why do you care, and keep saying this over and over?

13. andynaija

Posts: 1261; Member since: Sep 08, 2012

But it's the truth, so why are concerned if midan lives in the US or not?

16. Vancetastic

Posts: 1510; Member since: May 17, 2017

I know he doesn’t live in the US. I’m just curious as to why he can’t stop talking about it. It doesn’t affect him. I’m sure his country is behind in things as well. Everywhere is different.

2. Vokilam

Posts: 1258; Member since: Mar 15, 2018

Apple Pay will always be years behind of Samsung Pay. Either Apple provides insentives for merchants to add NFC scanners or pay someone some sort of royalties for using MST payment system (if that’s what’s holding it back). One of the biggest features I miss when I moved from Samsung. Adding banks does absololutly nothing anymore - we need merchants to get in board, Tim, especially Home Depot, Lowe’s, Walmart, Taco Bell,... come on. Don’t make me switch back to Samsung - I like iOS ecosystem.

3. iloveapps

Posts: 855; Member since: Mar 21, 2019

I prefer apple pay than any android payment coubterpart. Its privacy and security is the deal breaker. That’s is why the capability of NFC is limited in apple pay.

5. hjl2345

Posts: 90; Member since: Aug 11, 2018 Um... no its not, the NFC is somewhat open to other NFC tags and such. Can't say neither of Android/Samsung/Apple pay is all secure. All of them have the same vulnerability.

7. tedkord

Posts: 17388; Member since: Jun 17, 2009

Apple pay is no more secure than the others.

8. Vokilam

Posts: 1258; Member since: Mar 15, 2018

I disagree, capability of NFC is limited to apple pay, because unlike android devices, apple handles other tasks without needing NFC integration. whether it's better or worse is up to each preferences. But apple pay is only usable at NFC enabled POS. Samsung pay isnt limited to that (you just have to try it to really appreciate it). Regarding privacy and security - when it comes to mobile payments, they all rebuild and renamed their payment systems to be just like apple pay (i.e. google wallet to android pay). and they're now extremely similar when it comes to security and privacy. They only difference, is that google tracks "who, what and where" thru their servers so they can later feed you relative ads and apple does not.

14. andynaija

Posts: 1261; Member since: Sep 08, 2012

I thought Home Depot has NFC terminals?

6. hjl2345

Posts: 90; Member since: Aug 11, 2018

The only reason why I can't see myself getting an iPhone in my country is the fact that with all that added price, Apple Pay is still not available for my country. I can get with not having iTunes store, but the lack of Apple Care Plus and Apple Pay is a real big deal breaker for me.

10. zebraman

Posts: 59; Member since: Sep 11, 2013

I live in Australia I've seen apple pay at one shop before I don't know where they get the 99% figure from. With most andriod phones having NFC you can pay at every shop.

11. Rampage_Taco

Posts: 1075; Member since: Jan 17, 2017

I'm thinking they probably only reference major retailers, because even in the US, most small stores don't support NFC payments, therefore no Apple Pay.

12. midan

Posts: 2971; Member since: Oct 09, 2017

It sounds that you don't understand how Apple Pay works. What you mean by saying you've seen Apple Pay at one shop? "With most andriod phones having NFC you can pay at every shop." just like you can with Apple Pay which you know use that same NFC too :) it doesn't need anything extra, so there's comes that 99% ;)

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