Announcing Bailey’s upcoming retirement in the memo, Cue wrote, per the report: “Under Jennifer’s leadership, Apple Pay has changed the way hundreds of millions of our users pay, with a simpler, more secure and private experience.”
Bailey will retire at the end of October. Apple will announce its succession plan before then, and Bailey will be available to support the transition in an advisory role, Cue said in the memo, according to the report.
“As we continue to work toward our vision of replacing the physical wallet, I’m more confident than ever in the work that we are all doing and look forward to an exciting future ahead,” Cue wrote in the memo, per the report.
Apple did not immediately reply to PYMNTS’ request for comment.
Bailey has been with Apple for nearly 24 years. According to her LinkedIn profile, Bailey joined the company in 2003 as vice president, WW On-Line Stores. She moved to her current role as vice president, Internet Services, Apple Pay in 2014.
The PYMNTS Intelligence report “Apple Pay @11,” released in October, found that Apple Pay dominates the digital wallet ecosystem, though its rivals are also gaining use.
When surveyed for the report, 16% of consumers said they had used Apple Pay in stores in the last week. That share was twice what it was in 2024, according to the report.
Bailey said in October that Apple and its partner ecosystem are making it possible for users to replace their physical wallet with a digital wallet.
Speaking during a keynote at that month’s Money 20/20 USA, Bailey said Apple Pay is live in 89 markets around the world and supported by more than 11,000 banks and networks, while Apple Wallet provides hundreds of millions of users around the globe with access to Apple Pay and other tools.
Tuesday’s Bloomberg report said that several top Apple executives are retiring. CEO Tim Cook is stepping down Sept. 1, environment chief Lisa Jackson left at the beginning of the year, general counsel Kate Adams is retiring this year, and former CFO Luca Maestri and marketing head Phil Schiller have taken smaller roles at the company, per the report.
