Apple Pay chief Jennifer Bailey said in an interview at Fortune’s Brainstorm Reinvent conference in Chicago that the tap-to-pay service is expected to be in 60% of US retailers by the end of 2018. Bailey also made it clear that the Cupertino company did not think of Apple Pay from a disruption perspective but rather the perspective of creating a good customer experience.
“When we thought about Apple Pay, we thought, there are a lot of payments out there that our customers already love and trust,” Jennifer Bailey, Apple VP of internet services and Apple Pay, said Tuesday morning during Fortune‘s Brainstorm Reinvent conference in Chicago. “We don’t sit around and think about, ‘what industry should we disrupt?’—we think about, ‘what great customer experiences can we develop?’”
Apple Pay was introduced in 2014 and Apple Wallet, the app that is used to store credit card information and pay for things at touch terminals, is now in 24 countries.
Apple Wallet however has grown far beyond just a credit card storage and payment place on your iPhone. It now can be used in 12 cities globally for public transit including Tokyo, Beijing, London, and Moscow with Bailey reporting in the interview that adoption for this has reached a high penetration rate in Tokyo. Additionally, loyalty program cards have long been a staple of what can be added to Apple Wallet with corporate access, hotel key access and student ID access coming in the future. Student ID access will actually roll out next week.
That said, the United States as a whole is a laggard when it comes to contactless payments due to the lack regulations and lack of support for more secure chips in credit cards. Some businesses such as gas stations and restaurants are particularly behind the curve.