• Mobile Commerce Daily, Friday, January 30, 2015 11:48 AM

The momentum behind Apple Pay continues to build, with 750 banks and credit unions having already signed on and the service now being integrated into 200,000 vending machines, laundry machines and parking meters. During a conference call with analysts this week to discuss Apple’s fiscal first quarter results, CEO Tim Cook reported that Apple Pay makes up more than $2 out of $3 spent on purchases made using contactless payments across the three major card networks. Mr. Cook claimed the results are stronger for some merchants, with Panera Bread seeing Apple Pay account for more than 80 percent of mobile payments transactions while Whole Foods has seen mobile payments increase by 400 percent since the launch of the service.

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