​Apple Pay hits breakneck speed, 700,000 locations

Apple's rollout of Apple Pay has accelerated dramatically as the company aims to win the mobile payments race.


Apple Pay has more than 2,500 banks supporting it and Coca Cola has plans to use the payment service for 100,000 vending machines. Apple CEO Tim Cook is arguing that 2015 will be the year for Apple Pay.

Cook's comments, made in San Francisco at a media event launching the Apple Watch, highlight how the company is planning to use its iPhone---700 million sold to date---as its Trojan horse into payments.

According to Cook, Apple Pay now reaches 700,000 locations around the U.S., up from 200,000. Coca Cola has 40,000 vending machines accepting Apple Pay today and will have 100,000 by the end of the year. That's in addition to the more than 200,000 self-service machines that accept payments via USA Technologies, as the company announced in January that its ePort Connect hardware would support Apple Pay.

The rollout after three months is notable given that Samsung bought LoopPay and Google will use Android for payments.