Apple Pay was introduced back in 2014. Since then, the ‘Cashless made effortless’ mobile payment and digital payment service has been on a success roll, being offered in a host of nations such as Japan, Russia, Australia, China, Canada, USA, the U.K. and so on. With its Wallet and Apple Pay Cash features, Apple Pay has kept up its utility quotient for all its users over the years.
Taking the success story several notches higher, the California-based eCommerce company eBay announced this Tuesday that it would feature Apple Pay as a payment mechanism on its huge retail platform. To begin with, some retailers will initiate the tie-up by accepting Apple Pay in the US come fall, which will be followed by a full-scale global rollout.
Given that the iPhone growth might be a bummer for as it slows down, Apple can shift its focus on the services business as the thrust area for growth. On this front, Apple’s CEO Tim Cook stated in a conference call in May that Apple's services business has been "growing dramatically," The services like App Store, Apple Music, and Apple Pay have been the star performers, earning a huge $9.2 billion, which is also double the services revenue gathered by Apple just 4 years ago. The Apple services business thereby shows the immense potential that needs to be tapped and what better than to rope in giant eCommerce players like eBay in the game!
Tuesday’s announcement seems to be the first of many more on the line in the coming months, mentioning a "payment initiative" that will go well into 2021.
Managing the end-to-end payments experience on eBay's Marketplace is a key initiative for the company. As we expand our new payments experience over the coming months, we look forward to offering our global customers many other forms of payments on our platform. - Steve Fisher, Senior Vice President of Payments at eBay
Apple Pay features as a part of eBay’s payment extension program, after its fallout with PayPal.
As ‘The easiest way to pay on the web’ meets ‘The World’s Online Market Place’, the world of eCommerce is all set to get a boost like never before!