Apple Pay Continues To Gain Momentum

Chris CrumBusiness

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Apple released its financial results for its fiscal year 2015 Q2 on Monday. The company had a record quarter largely thanks to iPhone sales, as well as strong performances by Mac and the App Store.

During the ensuing conference call, CEO Tim Cook talked a little bit about the momentum Apple Pay continues to gain. Here's what he had to say about that (via SeekingAlpha's transcript):

We’re seeing great momentum with Apple Pay. Discover announced today that its cardmembers in the United States will be able to make contactless payments in participating stores through Apple Pay beginning this fall.

And last month, we said that the number of locations accepting Apple Pay has tripled, and we continue to see great progress with merchants. Best Buy, which has been a longtime, strong partner of ours, has just announced that it’s now offering Apple Pay in-app and later this year will offer Apple Pay in all of their U.S. stores.

And merchants aren’t the only ones jumping onboard. Earlier this month, a leading healthcare payment network announced acceptance of Apple Pay for its clients, so over 50 major hospitals across the country, including Stanford Healthcare and Aspen Valley, will accept Apple Pay this year for copays and bill payments at registration and check in.

Both Discover and Best Buy put out press releases about their Apple Pay integrations on Monday.

Best Buy said customers can immediately start using Apple Pay to make purchases in the Best Buy app on the iPhone 6 and 6 Plus. An update is now available in the App Store.

"Today’s consumers have many different ways to spend their money and we want to give our customers as many options as possible in how they pay for goods and services at Best Buy," it said. "The acceptance of Apple Pay in the Best Buy app is the latest enhancement for our mobile platform."

The company also noted that it is opening a technology innovation office in Seattle this summer, which will largely focus on mobile.

"In addition to paying in stores with iPhone 6, iPhone 6 Plus and Apple Watch, millions of cardmembers can also use Apple Pay with iPad Air 2 and iPad mini 3 when paying for goods and services within apps beginning this fall," Discover said of its integration.

“As the mobile payments landscape matures, Discover remains committed to giving cardmembers secure options for using their cards and mobile devices,” added Diane Offereins, Discover’s president of payment services. “Discover’s focus on simplicity and value for our cardmembers aligns well with the way Apple Pay makes purchases easy and convenient.”

The company notes that when cardmembers add their credit or debit card to Apple Pay, the actual card numbers are not stored on the device or on Apple servers.

As part of the agreement, it said, Discover Network will enable eligible financial institutions, including Discover Debit issuers, to let their cardholders use Apple Pay.

Earlier this year, Apple partnered with USA Technologies to make Apple Pay available in over 200,000 vending machines, laundry pay stations, parking meters, etc.

Image via Best Buy

Chris Crum
Chris Crum has been a part of the WebProNews team and the iEntry Network of B2B Publications since 2003. Follow Chris on Twitter, on StumbleUpon, on Pinterest and/or on Google: +Chris Crum.