“The list of companies working with Apple Pay continues to grow,” Mike Isaac reports for The New York Times.
“On Tuesday, Apple announced that in recent weeks the company had signed up dozens more banks, retail stores and start-ups to adopt Apple Pay, the company’s new e-commerce product, which allows customers to buy things with little more than a wave of their iPhone” Isaac reports. “The new companies that recently agreed to work with the service include SunTrust, Barclaycard and USAA. Ten more banks, including TD Bank North America and Commerce Bank, will back the new form of payment on Tuesday.”
“With the new additions, Apple says it supports the cards that represent about 90 percent of the credit card purchase volume in the United States,” Isaac reports. “Some industry watchers are bullish on what Apple may do for the mobile payments industry overall. One estimate sees United States mobile payments volume reaching $142 billion by 2019, according to Forrester Research. Much of that will be a result of Apple Pay’s effect on the industry, Denée Carrington, a Forrester analyst, said. Ms. Carrington expects Apple Pay to reach $34 billion in e-commerce volume in the United States by 2019.”
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