Apple looks to Asia to speed Apple Pay growth in 2016


Apple in talks to bring Apple Pay to Israel
Asia and Europe are Apple Pay's two biggest focuses next year.
Photo: Jim Merithew/Cult of Mac

Apple watchers should expect the company’s mobile payment service, Apple Pay, to expand to new markets in 2016 — with a heavy emphasis on Asia.

According to a new report, Apple is focusing on Asia and Europe since adoption in the United States has been slower than expected. Regions set to get Apple Pay next year so far include China, Hong Kong, Singapore and Spain.

Apple hasn’t yet announced figures for its Apple Pay adoption, but an October estimate placed it at around 1 percent of payments.

While Apple reportedly saw its strongest Friday sales in history for this year’s Black Friday, another report also suggested that just half the total percentage of Apple customers who used Apple Pay at last year’s Black Friday took advantage of it during this year’s sales bonanza.

On the other hand, Not only is Asia a big market for Apple to focus on, but it is also a “mobile-first” market, where customers are more used to contactless payments. During last Sunday’s 60 Minutes episode, “Inside Apple,” Tim Cook reiterated that he sees China especially as Apple’s biggest market of the future.

Have you been a regular user of Apple Pay in 2015? Leave your comments below.

Source: Business Insider