2019 and Beyond – Predicting the Future of Apple Pay

Concepts behind Apple’s collective mind frame can sometimes be quite difficult to fathom.

The world’s most valuable publicly traded company (still!) has over the years been hit with a barrage of criticism for its business endeavours. The stigma behind the tech giant stemmed out of the public inability to understand Apple’s progressive thinking which would often take it ahead of the curve, courtesy of innovative products and services.

One such has definitely been Apple Pay.

Ever since the introduction, this payment service has been ahead of its time. The world was originally not ready to process the idea of paying through a phone or a watch but such convenience has – thanks to Apple – quickly emerged as an industry standard of the new age of technology.

The numbers behind Apple Pay are staggering. It is estimated that over 43% of all iPhone users around the globe have enabled – and are actively using – Apple Pay on their devices. It’s a number of 383 million iPhones. The service has recently gone live in Saudi Arabia and the Czech Republic and Apple Pay in now working with over 40 new banks globally. These include 20 more in the United States and France.

Ways you can use Apple Pay are rapidly increasing as well.

The LA Metro rail and bus network has started implementing Apple Pay through the TAP system, while Target has also rolled out Apple Pay support at all stores across the States.

Apple pay can now be used at all sorts of grocery stores, boutiques, restaurants, and across all kinds of apps and websites. Gamers have been most appreciative of the fact Apple Pay teamed up with GameStop and it’s fair to argue that the online gaming industry indeed offers the greatest potential for further Apple Pay implementation.  It subsequently spills into the online casino world as well and the industry authority has already highlighted the list of establishments accepting Apple Pay. Although the number of such places is severely limited, the latest legal and regulative trends in the United States are bound to be of great effect to Apple Pay’s future in gaming.

Apple is well aware of the gaming world’s financial potential and has recently been talking to game developers with an idea to create a Netflix-styled subscription service, allowing users access to a list of gaming titles for a fee. Apple Pay is set to be at the forefront of the idea with its game-convenient mechanisms.

With retailers rushing to adapt their hardware and software to accommodate the growing presence of Apple Pay service, the company is facing forward into 2019 – and beyond – with a smile on its face.

Wrapped in a veil of unpredictability, what else could Apple possibly do to take Apple Pay to the next level?

This is what we know so far: much to the eyebrow-raising of its diverse user base, Apple is teaming up with Goldman Sachs to unveil a new credit card. Fully integrated with the iPhone, Apple Watch, Apple Wallet and Apple Pay, this card is envisioned as a method that would help both companies find new revenue incomes.

The Wall Street Journal reported the card will be rolled out to employees for testing whereas the official launch could be expected later this year. Apple is looking to introduce its payment services into a wider assortment of niches as iPhone sales suffer a 15% drop.

The credit card will offer perks and incentives to the holders, such as a 2% cash back rewards, while it will – thanks to the Wallet and Apple Pay features – help users gain better control of their expenses, through notifications about spending steering out of the usual patterns.

Will it be enough to reshape the payment landscapes of today?