Offering 3% cash back from more merchants could strengthen Apple Card's potential to drive US adoption of Apple Pay:
Driving usage may be particularly important in Apple Card's early days, as shaping consumers' purchase habits with the card right away may help Apple Card rise to the top of consumers' wallets. And all of these effects will be amplified if Apple adds other"popular merchants and apps," as it's promised to.
Offering 3% cash back from more merchants could strengthen Apple Card's potential to drive US adoption of Apple Pay, and it should target physical merchants in particular., but Apple Card and its cash-back offerings have the chance to change that. Apple Card's 2% cash back on all purchases using the digital card incentivizes consumers to use Apple Pay and may convince shoppers to use the payment option for the first time.
Using Apple Pay in brick-and-mortar stores requires more effort from consumers than using it online, so Apple should aim to offer 3% cash back from a number of popular physical retailers. Using Apple Pay online is very similar to how consumers are used to making online purchases, while in-store it requires new processes and includes the presence of cashiers and other consumers, which could cause anxiety and lead consumers not to use Apple Pay.
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