Here's How Apple Is Making Apple Pay More Ubiquitous

Apple Inc. AAPL announced Today that it has signed up dozens of more banks, retail stores, start-ups to adopt its payment platform, Apple Pay.

Dan Costa, Editor-in-Chief of PC Magazine, was on CNBC to discuss the tremendous pace with which Apple is working on making Apple Pay ubiquitous.

Which Banks Signing Up For Apple Pay Will Create Most Impact?

“They already had a lot of the big banks,” Costa said. “The big ones they just announced are TD Bank and Commerce Bank, but I think, the thing that’s even more interesting is that they are signing up all these local credit unions. So, they have got the big banks, now they are going into the little banks and they are truly becoming this ubiquitous service. I think, all those little banks are going to add up to a lot more users than even the big ones.”

More People Using Apple Pay Just Because More Banks Adopt It?

“Yeah, and it’s going to be more available. In New York City you go to retail stores, there’s a lot of places that take Apple Pay, but it has got to get to the part where it’s ubiquitous and I think all that banking support is going to help.”

Is It To Early To Call Apple Pay A Success For Apple?

“Well, Apple doesn’t release actual numbers in terms of how many people are using it. Tim Cook has said that a million people registered their cards in the first 72 hours. Whether a million people are actually using it on a day-to-day basis remains to be seen, but Whole Foods, for example, saying that 1% of all its transactions are happening via Apple Pay now, so, that’s a lot of kill.”