In Pictures: Apple Pay's Next Moves
Published June 11, 2015 11:01 PM
|
Updated October 20, 2016 10:17 AM
1 Min Read
David Paul Morris/Bloomberg
Apple is doing a lot more with its mobile wallet, with a focus on making Apple Pay a more palatable option for retailers. The company is also making moves to beef up the features visible to consumers and expand to new regions.
Square Deal
Perhaps it's no coincidence that Square's new NFC reader looks a lot like an Apple router or a Mac Mini. The device, announced during Apple's Worldwide Developers Conference, is Apple's ticket to reaching the smaller merchants that may not want or need a full NFC-compatible point of sale system for accepting mobile payments.
David Paul Morris/Bloomberg
Closing the Loop with Retailers
Apple Pay's focus on banks upset retailers that wanted their own closed-loop cards to be top-of-wallet among Apple users. Apple Pay is finally opening the door to these cards, putting retailers at the same level as banks within its mobile wallet.
Rewards and Alerts
Apple Pay will also accommodate loyalty cards and alert shoppers when and where these cards are available to be used. A similar feature in Google Wallet uses the phone's location data to tell consumers when they are near a store whose loyalty card they stored in the app.
David Paul Morris/Bloomberg
Still Not Calling It iWallet
Passbook was a poor name for the app that controls the contents of the Apple Pay wallet, so Apple decided to change its name. The new app is simply called Wallet.
Marco Govel
London Calling
Apple Pay will finally go overseas in July, landing first in the U.K. Apple has signed deals with eight of the country's major card issuers, and has made significant headway with merchants as well.
Payments In Transit
Apple Pay will also be used for transit fare in London, where the turnstiles already accept contactless payment cards. Transit systems are often seen as test beds for new payment technologies.
Andrew Harrer/Bloomberg
Pin It
Apple will also be among the companies supporting Pinterest's upcoming Buyable Pins, which enable sales of items from merchants like Macy's and Neiman Marcus from within the Pinterest app. Pinterest is also working with Stripe and PayPal's Braintree.
