Jennifer Bailey, Apple Pay chief, was speaking at the Code Commerce conference in San Francisco
According to Apple Inc.’s (NASDAQ:AAPL) Apple Pay chief Jennifer Bailey, the in-house mobile payments system is being used and accepted at more than 35% of the retailers all over the country. Bailey has also predicted massive growth for Apple Pay next year.
Bailey was speaking at Re/code’s Code Commerce Conference being held in San Francisco, when she said that currently Apple Pay stands at around 35% adoption rate in the country. But as 2017 rolls in, that will figure rise meteorically. 35% adoption means around four million retail locations all over US, but that figure could rise to cover two out of every three retail locations.
That growth is also predicted in Gap’s participation in the Apple Pay method of transactions, which is reported to be launched in the next few months. So far, NFC payments and the “dip to pay” method has been the way to go for Apple Pay. But especially after the launch of Apple Pay in Japan and the application of EMV technology, that trend could be shifting.
Bailey has, however, reiterated that EMV is not necessarily the way forward for now, and it is more important right now that a number of partners are supported for mobile payments. While EMV is increasingly becoming a major rival for Apple Pay, the Cupertino company is simply looking to strengthen its foundations so that it could continue its rise as the next default payments method.