Merchant Innovation

Apple Reaching Out to Top Retailers As It Contemplate Payments Push

After all the speculation it seems Apple is finally ready to start making its push into payments, albeit slowly. According to reports in 9to5Mac executives from the high design tech company have reportedly been in meetings with retail chain directors about a mobile payments servicce.

So does that mean “iPay” is coming soon to a smartphone and retailer near you soon?

Probably not. There some thoughts about mobile pay by Apple will look like – something integrated into iOS Devices such as the iPhone, something comprehensive that allows iPhone users to use their device as a form of payment and something integrated into already existing iTunes accounts. There are some ideas about who the secondary players could be as Apple is in talks with both payments companies and luxury retailers. There are even theories about how Beacon is the natural choice for an enabling technology in-store.

The the current round of  discussions with retail chains focus on the challenges of building a single payments service that could integrate with various retail stores. Apple has also been asking retailers to survey customers on their real level of interest in mPay options.

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Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. Check out the February 2019 PYMNTS Digital Fraud Tracker Report

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