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Apple Pay is already much bigger than you thought

Published Dec 16th, 2014 5:30PM EST
Apple Pay Support Expands
Image: Apple Inc.

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This week, Apple announced that its Apple Pay service has grown once again to support dozens of new businesses, including banks, grocery stores, big-box retailers and even Orlando’s Amway Center. With 10 more banks signing on, Apple says that it now supports the cards which constitute about 90% of all credit card purchases in the United States.

FROM EARLIER: This great free app tells you when you’re in a store that accepts Apple Pay

Based on data gathered by The New York Times, Apple Pay is performing well at some of the country’s largest retailers. Whole Foods has processed more than 150,000 Apple Pay purchases and McDonald’s says 50% of all tap-to-pay transactions at its restaurants were from Apple’s new service.

“Retailers and payment companies see Apple Pay as the implementation that has the best chance at mass consumer adoption, which has eluded prior attempts,” Patrick Moorhead, president of Moor Insights & Strategy, told NYT. “They believe it will solve many of the problems they had before with electronic payments.”

Alex Martins, CEO of the Orlando Magic, believes that Apple Pay could help speed up the long lines at basketball games. If you’ve ever waited for a drink at a stadium or coliseum before, you’ve probably got a pretty good idea where Martins is coming from.

If mobile payments take off in the way Apple and its partners believe it can, expect to see the list of businesses continue to expand at a rapid pace in the coming months and years.

Jacob Siegal
Jacob Siegal Associate Editor

Jacob Siegal is Associate Editor at BGR, having joined the news team in 2013. He has over a decade of professional writing and editing experience, and helps to lead our technology and entertainment product launch and movie release coverage.