Apple has transformed personal payments by digitizing wallets, now including loans, car rentals, and third-party payment support, marking a decade of continuous evolution in finance.
Jennifer Bailey highlighted that Apple Pay's upcoming features show an inclination towards third-party solutions, particularly in deferred payment services, signaling Apple’s response to regulatory pressures.
Apple claims to have hundreds of millions of users across 78 markets, supported by over 11,000 banks, highlighting its extensive reach in digital payments with Apple Pay.
With the introduction of installment loans and support for services like Affirm and Klarna, Apple Pay is venturing into the business of casual loans, diversifying its payment portfolio.
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