During its earnings conference call for the fourth fiscal quarter of 2015, Apple CEO Tim Cook announced the expansion of Apple Pay to several “key global markets” via a partnership with American Express. Phase 1 of the rollout will take place this year, with a second rollout planned for 2016.
Under the terms of the partnership, Apple will make Apple Pay available to select American Express customers in Canada and Australia by the end of this year. A second expansion is scheduled for 2016 which will see the service rollout to customers in Spain, Singapore, and Hong Kong. Unlike Apple Pay in the US and UK where multiple banks and credit card companies are supporting the mobile payment service, the rollout of Apple Pay in these regions is limited only to “eligible” American Express customers, a criteria that will limit the service’s expansion. Apple did not specify when other banks in these countries will being supporting the mobile payment service.
Apple Pay launched in 2014 alongside iOS 8 and its expansion globally has been slow. With the addition of Canada and Australia, the service will be available in four countries by the end of the year, an expansion that will double the number of countries with Apple Pay support. In the US and UK where Apple support is widespread, the service has seen double-digit monthly growth in the number of transactions processed.
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