“Fortune sat down with MasterCard’s chief emerging payments officer, Ed McLaughlin, to talk about the company’s partnerships with Apple’s mobile payment service, Apple Pay,” Leena Rao reports for Fortune.
Fortune: In Mastercard’s experience, how’s the consumer adoption of Apple Pay?
McLaughlin: We are seeing strong uptake. But these technologies will take time to grow. Particularly with Apple Pay you need to have a new iPhone to start using Apple Pay [older versions of the iPhone are not compatible]. But we’re seeing adoption track really well.
Fortune: How many MasterCard credit cards have been integrated into Apple Pay? Visa recently said 60 million.
McLaughlin: We haven’t released that number. But we do see a lot of users using their cards with Apple Pay. We’re also analyzing where and how people are using Apple Pay with their MasterCard cards. It’s also really interesting to see what’s happening with contactless payments outside of the U.S. In the UK, I can tap my Apple Watch to pay to get onto the Tube, and that is a great experience. And I think it’s those anchor experiences that will build usage around contactless payments. We have not published tracking stats on that yet, but it’s being adopted, and it’s being used.
Much more in the full article here.
MacDailyNews Take: Yet another positive report for Apple Pay!
We would like to see Apple really ratchet up their efforts to get Apple Pay signage “Yes, we have Apple Pay!” posted at every Apple Pay-capable point of sale. The more people who see that sign, the more Apple Pay users will use it and the more others will want to use it. It’s a win-win for everyone and doesn’t cost that much to accomplish.
Apple Pay transaction limit increased in the U.K. – September 1, 2015
Apple Pay will now work with PayAnywhere – August 27, 2015
Is Apple Pay the killer app for Apple Watch? – August 19, 2015
Apple Watch owners vastly prefer Apple Watch to iPhone for Apple Pay – August 18, 2015
In its second year, Apple Pay primed to cash in – July 24, 2015
The hidden brilliance behind the timing of Apple’s adoption of NFC – September 12, 2014
[Thanks to MacDailyNews Reader “Bill” for the heads up.]