Japanese railway JR East is due to launch Apple Pay later this month through its Suica payment system, which Apple has upgraded the iPhone 7, 7 Plus, and Apple Watch Series 2 to support, Bloomberg noted.
Retailer Kohl’s Corp. is starting to compete with the tech giant’s mobile-payment service Apple Pay after five months after shaking hands with Apple Inc.
For Apple, the market leader of in-store mobile payments, moves like Kohl’s are becoming increasingly familiar. Over the summer, Wal-Mart Stores Inc. rolled out its own mobile-payment service nationwide and pharmacy chain CVS Health Corp. introduced CVS Pay.
Apple Pay, which turns 2 years old this month, is facing stiffer competition and needs to find ways to stand out in a crowded field. In the next year, most retailers and fast-food restaurants will start their own mobile-payment services, and some of them will also offer Apple Pay.
The service, which expanded into Russia earlier this month, is looking to absorb more functions of people’s traditional wallets, such as transit cards and retail loyalty cards.
read more at bloomberg.com