Apple Pay stories
The number of mobile wallets using contactless technology is expected to reach 200 million by the end of 2016, representing growth of 100% since 2014.
Planned use of Apple Pay has been on an upward trajectory, with the service helping to spark consumer demand for mobile payment technologies.f.
While mobile and digital payments are on the rise, the majority of consumers still have concerns with adoption of the technology.
Several major banks are gearing up to release their own mobile payment apps, which could prove a major competitor for Apple Pay and competing products.
Apple Pay's entrance into the payments industry will have a bigger impact in remote mobile payments, according to Ovum.
Apple launches Apple Pay, a new way to pay securely and privately using iPhone 6, iPhone 6 Plus, and Apple Watch, aiming to revolutionize mobile payments.
