Calling Apple Pay a potential breakthrough that takes mobile payments mainstream, Citibank chief innovation officer Deborah Hopkins bullishly said in a recent interview that Apple delivered a solution that people would use. Noting that we've had NFC for seven or eight years now, Apple Pay may seem like it's a late entry into the game, but Hopkins goes on to say that we're finally solving something for customers rather than making it a fun thing of just tapping your phone.
In addition to being an Apple Pay partner, Citi is also an investor in Square. The success of Apple Pay could help bring awareness to other mobile payment investments, including Square, that Citi has in its portfolio.