Apple announced during its World Wide Developers Conference this week an expansion of Apple Pay to its iMessage app.
This new feature allows users to send money to other devices and authenticate transactions via thumbprint, as they do when using Apple Pay in other formats.
The iMessage Apple Pay functionality will be available with an upcoming iOS 11 operating system (available in September) update for iOS devices.
Apple Pay evolution is impressive, posting a 450% growth in transaction volume over the last year.
Stephan Schambach, founder and CEO of NewStore, mentioned to Retail Dive This is a natural progression for Apple Pay as it looks to differentiate the consumer experience when using mobile wallet features. Apple Pay is taking it a step further by shifting its focus from paying retailers and businesses to the social aspect of paying back friends — enhancing consumer fulfillment by addressing the need for convenience. The easier it is for consumers to make a payment through mobile wallets, the more time they are likely to spend on their devices.