Apple Readies Rewards Program for Apple Pay

Apple Readies Rewards Program for Apple PayApple is preparing a rewards system for Apple Pay users, according to a TechRadar article by Joel Burgess. Relying on a New York Times report, Burgess asserts that the rewards program would be somewhat similar to the popular frequent-flyer-style programs employed by other financial services organizations.

The system is expected to be unveiled at this year’s Apple Worldwide Developers Conference (WWDC) between June 8th and 12th, though it’s conspicuous that news of the planned service leaked immediately prior to the Google I/O Android conference, at which rival mPayment service Android Pay is expected to launch. The rewards system is clearly intended to give Apple a leg-up in its competition with other mPayment platforms, and could kick off a perks race in which consumers benefit most.

Competition in this area stands to heat up quite a bit this year. In addition to Android Pay, Apple Pay will also see competition from Samsung Pay and Alibaba’s Alipay. But with the market presence facilitated by its huge head start, Apple Pay will be the platform to beat, and it only makes sense for Apple to start planning its defence now.