Apple Pay has seen strong adoption across the board, from businesses to card companies, and that adoption has resulted in strong numbers for the company.When Apple Pay was announced at the tail-end of 2014, it came under stiff scrutiny for being yet another contactless payment option. However, it seems to have worked out for Apple, as the company is apparently seeing Pay be two out of every three contactless payments across the major card companies, Visa, MasterCard and American Express.
This was revealed during the earnings conference call, following the official announcement regarding Apple’s first quarter 2015 earnings.
Tim Cook said that Apple Pay is “off to a great start,” and that he believes 2015 is “the year of Apple Pay.” Furthermore, it was revealed that 750 banks and credit unions have signed on to accept Apple Pay as a means for mobile payments, and that Apple Pay is responsible for 80 percent of mobile payments made at Panera Bread (a launch partner for the mobile payments option). At Whole Foods, Cook revealed that mobile payments had jumped up by 400 percent.
Apple Pay is still a fledgling option, but already it’s seeing huge adoption from big name entities, including the likes of the PGA Tour. Pay is also seeing adoption from companies like Western Union, and will actually be present in a lot more places as vending machines get added to the mix.