Enabling Technologies

Apple Pay Shows Gradual Growth with Smaller Milestones in US and UK

MEDICI

After launching in the United States last October and in the United Kingdom this summer, Apple Pay is showing a gradual growth. When Apple Pay was launched in the UK this summer, its transaction was limited to £20 without entering a signature or PIN, but now the cap has been raised to £30. This raise in the transaction limit from £20 to £30 is a boost for Apple Pay’s expansion in the UK. The UK Cards Association, which decided on the change, says that £30 covers common usages like an average supermarket spend, as well as most payments made in pubs, cinemas, gift shops and elsewhere.

Emirates is enabling a new payment option for its customers in the US and the UK by offering Apple Pay, which makes it the first airline to allow consumers to access Apple Pay for ticket booking. Emirates will offer Apple Pay within its app available on the app store. Online air ticket booking is as simple as the touch of a finger with Touch ID, removing the need to manually fill out lengthy account forms when confirming flight tickets. Purchasing tickets via Apple Pay will still allow customers to get rewards and loyalty points. “We’re proud to be the first global airline to introduce Apple Pay for ticket purchases and we hope this will contribute towards a more seamless customer experience which begins even before they board our flights,” commented Thierry Antinori, Chief Commercial Officer at Emirates.

What’s more, the University of Oklahoma announced that its students can pay with Apple Pay at any of the 400 service locations scattered across the campus, including restaurants and bookstores. Apple recently confirmed plans of introducing Apple Pay to 700 universities and colleges across the United States.

Recently, Apple announced a new partnership with PayAnywhere, a credit card reader that serves more than 300,000 locations across the United States. The PayAnywere Mobile Reader accepts Apple Pay as well as a variety of other contactless NFC payment solutions and traditional magnetic stripe credit cards. It’s also EMV-capable. To promote Apple Pay usage, the company is also offering merchants $5,000 of free Apple Pay transaction processing. Beginning this September, the latest version of the PayAnywhere Mobile Reader will be sold in all Apple Stores for $39.95.

The LTP View:

Since Apple Pay's launch in the US last year and the UK this summer, the payment system has grown rapidly and is reaching milestones in the payment ecosystem.

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

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