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Apple does not plan to create a credit card because it does not want to be regulated

Last August, we followed the expansion of the Apple Pay in Brazilian lands for Bradesco and Banco do Brasil, which joined Banco Ita in the list of institutions that already support Ma's payment service. As in our country, this resource continues to expand gradually around the world, conquering even more markets.

Such growth, of course, positive for Ma, but does not mean that the Cupertino giant is trying to "disrupt the payments industry", according to the head of Apple Pay, Jennifer Bailey. The executive spoke about the spread and the company's plans for Apple Pay during the conference Brainstorm Reinvent, gives Fortune, which happened this week in Chicago (United States).

When we think of Apple Pay, we see that there are many payments that our customers already love and trust. We don't sit down and think, "What industry should we end up with?" we think ?What great experiences for our customers can we develop??.

Originally launched four years ago, Apple Pay's goal remains the same: to introduce an attractive consumer solution that works in conjunction with established payment methods. However, there were some rumors that the company was meeting with Goldman Sachs bank to launch a credit card with some advantages, such as loans for purchases made at Apple Stores.

To the unhappiness of consumers, especially Americans, Bailey stated that Apple does not intend to market its own banking options, as this would imply regulating the service in the territories where it is offered, and Ma "does not want to be regulated".

Nevertheless, the executive said that Apple is looking to expand its service beyond payments, through other features of the Wallet app. In this regard, Bailey confirmed that three US universities (Duke University, University of Oklahoma and University of Alabama) will adopt iOS 12 student document support to enter dormitories, pay for laundry and perform other functions in campuses with the iPhone or Apple Watch.

Apple is also trying to implement Apple Pay in US restaurants and gas stations; however, only a few restaurants are upgrading to adopt the service. According to FortuneGas stations have a harder time accepting this payment method in part because of how expensive it is for these outlets to update fuel pumps.

Still according to Bailey, Apple Pay is expected to reach 60% of US stores by the end of the year. The Wallet app is already in 24 countries, and iPhone owners can join public transport with this app in around 12 cities around the world, including Tokyo, Beijing, Shanghai, London and Moscow.

You can check the full interview of the Apple executive on the company's website Fortune.

via 9to5Mac