Having launched Apple Pay in the full-fledged form in Singapore earlier this week, Apple has now set its eyes on expanding its mobile payment service in more countries in Asia as well as Europe.
The company has asserted that it plans to expand Apple Pay coverage to every significant market it is involved in. While speaking to TechCrunch, the vice president of Apple Pay Jennifer Bailey said, “Apple is “working rapidly” in Asia and Europe to extend the service.” Though Bailey didn’t reveal which country would be next, she did share some insights.
Apple to Bring Apple Pay in Asia and Europe Very Soon
“First, we look at the size of the market for Apple products. We also look at credit and debit card penetration, and [existing] contactless payment coverage. “She added.
“[But] when we bring Apple Pay to market even when contactless is low, it will grow – it was 4 percent in the U.S. but is now 20 percent. We also work with our network partners, where we can utilize integration with Amex and Visa, to go to market quickly.”
With regard to China, she further said that the service’s launch in February had been “really successful”; adding that the company was “seeing incredible user and developer reception”.
She added that a number of prominent consumer tech companies are integrating the mobile payment service into their apps to enable digital payments.
Currently, Apple Pay is supported in six countries such as U.S., Canada, U.K., Australia, and China. As per reports, Hong Kong, Spain, and Japan are the next in line.