Thursday, August 18, 2016

Apple Pay Competes in Contactless Payments

Apple Pay continues to expand its reach in the US and abroad. Above, Apple Pay is accepted in a New York vending machine, as contactless payments gain ground little by little.

According to Apple's CEO, Apple Pay accounts for 3 out of every 4 contactless pay transactions in the US. By the end of 2017, Apple Pay will be honored by an estimated 76% of US retailers.

The mobile payments world is not only highly competitive, it's still fluid as the technology evolves and consumer behavior evolves. Some consumers are trying Apple Pay but not adopting it as a payment habit.

So Apple Pay and its competitors continue to try to influence consumers' payment choices and brand preferences. Stay tuned.

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