Apple Pay Poised to Grow Even Bigger in its Second Year
As its rival CurrentC enters the public trial phase, Apple Pay availability is about to enter its second year. By the way, Apple’s ambitious project of “reinventing payments” has come just in time before merchants upgrade POS systems because the liability for fraud on magnetic swipe transactions at most merchants is shifting from the card issuer to the retailer. So US retailers will likely choose the system upgrade, which brings great benefits to Apple Pay users, as it could mean more locations where they can pay with their iPhone 6 or Apple Watch.
Given all the circumstances and the fact that Apple Pay has already started its international expansion in force – 1.25 million locations on the first day of availability in the UK – Dan Moren of Macworld is positive that Apple Pay is set for a great second year.
After his trip to London, where he was able to pay for public transportation, Moren brought this need back to the US. But that’s not all: His main complaint is that Apple Pay isn’t available in more places he frequents.
Despite a better infrastructure accepting Apple Pay, Canadians are still waiting for the payment platform to launch. The latest rumour claims it will be around November, but this is subject to change. Meanwhile, mobile payment players have teamed up against the yet-to-come rival, but at the same time complain about slow adoption rate.
Some, however, such as Rob Cameron, chief product and marketing officer at credit and debit card processor Moneris Solutions Corp., the Toronto-based joint venture between RBC Financial Group and BMO Financial Group, have high hopes with Apple Pay: he believes the arrival of Apple Pay in Canada could finally inspire consumers to whip out their phones.