Apple Pay was designed to replace your physical wallet, and with iOS 9, Apple is uniting Apple Pay and Passbook under a new umbrella called, appropriately, Wallet.
Announced during Apple's Worldwide Developers Conference keynote Monday, the new app will replace Passbook, but function in the same way: You’ll still store your concert tickets in Wallet alongside your Apple Pay card information. Your rewards cards for stores like Kohl’s and JCPenney will also hang out in Wallet, because Apple Pay will start supporting retail loyalty programs this fall.
“Our ultimate goal was to replace the wallet, and we are well on our way to doing just that,“ said Apple’s Vice President of Internet Services Jennifer Bailey, who is overseeing the Apple Pay expansion. ”We couldn’t be happier with the progress of our vision and the momentum of Apple Pay.”
Apple Pay is also rolling out in the United Kingdom this July, supporting about 70 percent of all British credit and debit cards. More than 250,000 locations will accept Apple Pay on launch day, including Boots, Waitrose, Post Office, and other popular stores and restaurants. That’s more stores than initially supported Apple Pay in the United States, though as of next month, more than 1 million locations in the U.S. will accept Apple Pay. Another big difference between the British and American launches: You’ll be able to use Apple Pay on London’s public transit system, which still isn’t possible in the U.S.
For speculators who wondered whether Apple Pay would kill mobile payment rivals like Square, it’s clear now that Apple and Square are partners, not competitors. Apple announced Monday that Square is working on a new card reader plug-in for iPhones that will support Apple Pay, which will be available to business owners this fall.