Apple Pay's expansion effort shows no sign of slowing down (AAPL)

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July 10, 2017 3:49 PM

Apple Pay continues to expand its global footprint, with more than 20 financial institutions across the US and Europe adding support for the mobile wallet

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Apple Pay continues to expand its global footprint, with more than 20 financial institutions across the US and Europe adding support for the mobile wallet, according to Apple Insider.

This gives more consumers access to Apple's mobile wallet technology, and could very well be an attempt by the company to corner the peer-to-peer (P2P) payment market ahead of the highly anticipated fall release of iOS 11, the newest version of Apple's mobile operating system.

With iOS 11, Apple will introduce a new P2P payment feature that's attached to Apple Pay. Users will be able to send funds to friends and family directly from iMessage, Apple's messaging app. To do this, users will have to load a credit or debit card into Apple Wallet, which houses Apple Pay, according to Fortune; this implies that the offering will likely be enabled by any issuer partnered with Apple Pay.

By enhancing support for its mobile wallet, Apple is poised to see success in the payments space.

Jaime Toplin, research analyst for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on mobile P2P payments that:

You can also purchase and download the full report from our research store.

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