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“Speaking at NRF 2018 Retail’s Big Show in New York earlier this month, Apple Pay VP Jennifer Bailey presented a speech detailing how iPhone changed the retail landscape, and outlined the tech company’s ongoing efforts in the mobile payment marketplace,” AppleInsider reports.

“Purchases made on smartphones and tablets account for 25 percent of e-commerce transactions in the U.S. The rate of growth for mobile transactions is four times that of desktop, and 10 times that of traditional brick and mortar retail,” AppleInsider reports. “The same phenomenon is occurring outside the U.S. China, for example, sees 80 percent of its e-commerce transactions performed on mobile devices.”

“Apple Pay is behind a large chunk of those purchases. According to Bailey, Apple Pay availability was limited to about 3 percent of stores in the U.S. when it launched in 2014, but is now accepted in 50 percent of stores,” AppleInsider reports. “‘It’s the world’s most accepted contactless payment technology,’ Bailey said.”

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