“Apple is preparing to announce details about enhancements to Apple Pay at its software conference next month,” Mike Isaac and Brian X. Chen report for The New York Times. “Those include a rewards program for the mobile wallet service, said two people briefed on the product.”
“Mobile payments are growing quickly. Forrester Research predicts they will balloon to $142 billion by 2019 in the United States, almost tripling from $52 billion in 2014,” Isaac and Chen report. “Awareness of mobile payments has been stoked by Apple Pay, which Apple introduced last October. Apple has partnerships with dozens of American banks, allowing Apple Pay to work with most major credit cards. Some retailers, like Walgreens and Whole Foods, have said mobile wallet payments in their stores have grown significantly since the debut of Apple Pay.”
“But analysts have noted that a missing piece from Apple Pay was a rewards program to keep users returning to participating merchants,” Isaac and Chen report. “People familiar with Apple Pay said that next month, Apple will announce such a program offering perks to consumers who make purchases with the service, though they declined to reveal details.”
Read more in the full article here.
MacDailyNews Take: Throwing gasoline on the Apple Pay fire will only help to further accelerate iPhone and Apple Watch sales.
We’re looking forward to some nice Apple Pay perks and rewards!