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Jennifer Bailey claims Apple Pay will revolutionize retail

Head of Apple Pay, Jennifer Bailey, talked everything Apple Pay at the National Retail Federation conference in New York City, earlier this month. She discussed the huge impact Apple Pay is having on retail as well as potential future impact.

“A new shopping experience”

According to CNET Japan, Bailey discussed how Apple is hoping to create a “new shopping experience” focused on “application, settlement, loyalty programmes, and collaboration between stores and mobile.” The speech was entitled, “The Modern Shopping Experience”, demonstrating how focused Apple is on revolutionising the retail industry as we know it.

Bailey talked about just how quickly mobile transactions are already growing, stating the purchases made on smartphones and tablets account for 25% of e-commerce transactions in the US. As a result, mobile is doing more to revolutionize e-commerce than any other platform.

She focused on how apps using ARKit and TrueDepth feature, in particular, will continue to improve user’s retail experiences. For example. The Warby Parker iOS app allows you to try on glasses using your phone before buying them and will provide recommendations for you.

The future for Apple Pay

Bailey talked about the challenges of retail and explained Apple believes retail should be the opportunity to engage with customers:

“Physical stores are an important place where you can engage with customers face-to-face, you can focus on engagement with customers by making applications more efficient…We can discover and purchase services and products in a new way, from pickups to recommended personalized products, and we will continue to develop. We are ourselves a retailer and we share the opportunities and challenges of retailing,”

According to Bailey, Apple Pay is “the world’s most accepted contactless payment technology” and it Apple has only just scratched the surface of its possibility.

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