Apple Pay

Can Apple’s ‘Lose Your Wallet’ Event Attract Users To Apple Pay?

Apple wants people to lose their wallets. But in a good way.

The company’s “Lose Your Wallet” event in San Francisco will highlight 36 merchants in Hayes Valley and the Marina from Friday, June 23 through Sunday, June 25. These 36 merchants all accept Apple Pay, and all will be offering exclusive discounts over the weekend – between 10 percent and 25 percent off – for customers using the mobile payment service.

Square will be opening additional pop-up shops along Hayes Street and the Marina to offer even more exclusive Apple Pay offers.

Shoppers will be able to park for 50 percent less if they use Spot Hero to find a space. The parking reservation service connects drivers with parking spaces in lots, garages and valet services and allows them to prepay for the spot. They’ll also be able to enjoy food from local restaurants delivered by Caviar for $5 off.

Though Apple Pay has been slow to catch on in other markets, touchless payments have really become the norm in San Francisco. So while the “Lose Your Wallet” event may drive some buzz, it may not drive many conversions in a city where many residents are already on board. But Apple is optimistic.

Apple’s Services category, of which Apple Pay is a part, is really carrying the company, generating $7.04 billion in the second quarter, compared to $2.87 billion generated by products. Financial analysts expect that the category will remain on its upward trajectory for a while.

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