At Apple's WWDC developer conference, Jennifer Bailey, the head of Apple Pay, spoke about the progress of Apple Pay since its introduction last year.
With Apple Pay, the company is taking on several competitors, including Google's (GOOG) newly announced Android Pay and the soon-to-be-independent PayPal, now owned by eBay (EBAY). In order to try to overtake them, Apple is steadily adding new integrations and partnerships, and today's updates are a signal that the fight is only becoming even more heated.
At 3:04 p.m. EDT, Apple's shares were priced at $128.03, showing a decline of .25% for the day.
Here are some of the biggest takeaways from today's conference:
- More than 2,500 U.S. banks already support Apple Pay.
- Apple Pay is accepted at 1 million U.S. locations. Some of the new merchants include Trader Joe's, Dunkin Brands' (DNKN) Baskin Robbins, Forever 21 and J.C. Penney (JCP).
- The new iOS 9 Maps app will highlight which merchants support Apple Pay.
- Discover Financial Services (DFS) cards will support Apple Pay starting in the fall.
- Apple has partnered with Square to create a new terminal for merchants to accept Apple Pay. The terminal will be available in the fall and will make it much easier for smaller businesses to accept Apple Pay.
- In July Apple Pay will be offered in the United Kingdom, where it will be accepted at 250,000 locations and support nearly 70% of credit cards.
- London's transportation system will accept Apple Pay as well.
- Apple Pay is integrating loyalty and rewards cards, as previously reported. Kohls (KSS), Walgreens Boots Alliance's (WAG) Walgreensand Dunkin Brand's Dunkin' Donuts are among the retailers that will supporting this feature.
- Passbook has been renamed Apple Wallet. That's the Apple app that stores coupons, event tickets and credit and debit cards. Apple Wallet will be available on the new Apple Watch.
- Apple Pay is also being integrated into the Etsy (ETSY) and Pinterest apps.