News

Apple Pay Goes LATAM

As Apple works to push its Apple Pay services across the globe – exploring implementation of the mobile payment service in Europe and China – Apple Pay remains solely available in the U.S.

Still, Apple Pay has its eyes set abroad. Its most recent target: Brazil.

Brazilian media are reporting that Apple officials are in talks with the Bank of Brazil, Bradesco, and Itaú to support Apple Pay and launch the product at retailers in the nation. Brazilian reports also note that about 80 percent of the nation’s two largest POS suppliers support near-field communication technology, necessary for Apple Pay.

Brazil is heating up as a global mobile payments hub. Recent research found that about 70 percent of all Latin America e-commerce transactions occurred in Brazil, and the nation holds the world’s fourth-place spot for largest mobile market.

Recent federal regulations in the nation are also encouraging integration of innovative payment technologies with mobile services, experts say, as Brazil’s Central Bank takes a central role in monitoring the fees and commissions attached to the market.

Apple Pay’s rollout in the U.S. has seen its share of bumps and hiccups, but that hasn’t stopped CEO Tim Cook from rallying to bring the technology global. Just last week, rumors emerged that Apple may have finally struck a deal with China Union Pay to support Apple Pay.

In Europe, it’s unclear how much progress the tech conglomerate has made to launch its payment service. Some experts say that the European Commission’s investigation into Apple’s tax relationship with Ireland – a potentially anticompetitive one – may cause a regulatory headache for Apple to launch Apple Pay overseas. A recent Apple Pay hire, however, offers an optimistic outlook for European adoption: the company recently hired Visa Europe’s Director of Mobile Mary Carol Harris.

——————————

WATCH LIVE: HOW WE SHOP – TUESDAY, NOVEMBER 10, 2020 – 12:00 PM (ET)

New forms of alternative credit and point-of-sale (POS) lending options like ‘buy now, pay later’ (BNPL) leverage the growing influence of payments choice on customer loyalty. Nearly 60 percent of consumers say such digital options now influence where and how they shop—especially touchless payments and robust, well-crafted ecommerce checkouts—so, merchants have a clear mandate: understand what has changed and adjust accordingly. Join PYMNTS CEO Karen Webster together with PayPal’s Greg Lisiewski, BigCommerce’s Mark Rosales, and Adore Me’s Camille Kress as they spotlight key findings from the new PYMNTS-PayPal study, “How We Shop” and map out faster, better pathways to a stronger recovery.

Click to comment

TRENDING RIGHT NOW