Apple Pay VP Jennifer Bailey spoke at NRF 2018 Retail’s Big Show in New York earlier this month, and she shared information about how the iPhone and Apple Pay has changed the retail landscape.
Addressing conference attendees in a speech entitled “The Modern Shopping Experience,” Bailey presented a few interesting tidbits relating to Apple Pay growth and adoption, as well as insight into Apple’s current and future ambitions for mobile payments services, reports CNET Japan.
Bailey said that mobile devices, like the iPhone and Apple Watch, are doing more to revolutionize e-commerce than any other platform. Purchases via mobile devices account for more than 25% of e-commerce transactions in the United States. That rate of growth is four times more than desktop, and 10 times that of traditional “sticks and bricks” retail.
The growth rate is even greater outside of the U.S., with China seeing 80% of e-commerce transactions being completed via mobile devices.
Bailey notes acceptance of Apple’s payments system continues to grow. “It’s the world’s most accepted contactless payment technology,” Bailey said. Apple Pay availability was a mere 3% of stores in the U.S. immediately following its 2014 launch. Apple’s mobile payments solution is now accepted in 50% of stores in the U.S.
