January 1, 2015
Chevron is planning to bring Apple Pay payments for its gas pumps in 2015. Chevron was the only gas station that backed Apple’s payment system when it was launched back in October. Earlier, customers were required to go into the stores at the stations to pay using their iPhone 6. Chevron is now working with Apple to integrate the mobile payment system at the pump itself. The following tweet clearly cites Chevron’s intentions:
@SingAsana We are working alongside Apple to develop solutions to integrate with Apple Pay at the pump by early 2015.
— Chevron (@Chevron) December 29, 2014
The expansion of Apple Pay into gas station pumps could be a big step towards its wide scale adoption. Apple Pay would be able to target a massive segment of day-to-day commuters. Chevron is the second largest oil company in US. Extra Mile and Texaco, both owned by Chevron Corporation, are also Apple Pay’s official partners.
In a mere span of 3 months, Apple has signed up 30+ banks and 50+ merchants to support Apple Pay. Apple Pay now supports the cards that represent 90% of credit card purchase volume in US. Whole Foods had cited that it has processed more than 150,000 Apple Pay transactions. McDonalds’ had cited that Apple Pay accounted for 50% of its NFC based transactions in November. As per the ITG Mobile Payments report, Apple Pay was responsible for 1% of digital payment dollars in the month of November.
In 2007, Apple gave the chance to developers to develop apps and publish apps on the app store which developers could use. Apple supported this platform and is continuing to do so. Not in an exact one-to-one analogy, but Apple is trying to do the same for POS players. From the consumer perspective, Apple has brought its contactless mobile payments service Apple Pay bringing in both hardware and software payments solutions. On the merchant side, it is now allowing developers to bring in both hardware and software solutions to incorporate Apple Pay for merchants. This has been a primary reason behind Apple Pay gaining massive traction in just a span of three months.
Apple is also looking forward to expanding Apple Pay in other markets in 2015. Outside US, Apple Pay is expected to start off with UK first. With more partners integrating Apple Pay, 2015 could see major advances for Apple Pay service.