Cryptocurrency News Today: Apple ‘watching cryptocurrency’, considering Apple Pay tipping features
Apple has taken its push into consumer finance up a notch recently with Apple Card and the continued expansion of Apple Pay. Now, Apple Pay vice president Jennifer Bailey has hinted that Apple is also keeping a close eye on Cryptocurrency, while also looking at ways to improve Apple Pay.
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“We’re watching Cryptocurrency,” Jennifer Bailey, vice president of Apple Pay, recently told CNN’s Chief Business Correspondent Christine Romans at a private event in San Francisco. “We think it’s interesting. We think it has interesting long-term potential.”
This is the first time Bailey has acknowledged Apple’s interest in Cryptocurrency, though it’s unclear what the company’s intentions might be. Square has added support for trading cryptocurrency to its iOS app, and theoretically, similar functionality could be added to the Wallet app on iOS. Whether or not that’s something Apple has planned remains to be seen.
Elsewhere, Bailey noted that adoption of contactless payments has been slower in the United States than in Europe, but that Apple is seeing improvements:
“When you go to Europe, they bring you a wireless terminal. You can tap to pay,” she said. “We see that happening in the US too, but it’s still taking some time.” Bailey also noted that it can be costly for businesses like gas stations to adopt new systems.
Also in terms of adoption, Bailey said that Apple battles consumer perception that paying with a physical card is more secure than Apple Pay:
Apple must also grapple with what Bailey calls a “misperception” among some consumers that “paying with your physical card is