Apple Pay and Wallet chief Jennifer Bailey will retire from Apple at the end of October after more than 25 years at the company, ending a long tenure that included the launch and expansion of some of Apple’s biggest financial services.
Bloomberg reports that Apple services chief Eddy Cue announced Bailey’s retirement in an internal memo, while Apple plans to name her successor before she leaves. Bailey will also remain available in an advisory role during the transition.
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Bailey joined Apple in the early 2000s and began leading the Apple Online Store team in 2003, before becoming vice president of Apple Pay when the payment service launched in 2014. She later oversaw Apple Wallet, Apple Card, fraud prevention, partner operations, Gift Cards, and Trust and Safety.
Jennifer Bailey helped build Apple Pay and Wallet
In his memo, Cue credited Bailey with changing how hundreds of millions of Apple customers make payments while expanding Wallet well beyond its original focus on storing payment cards.
“After more than 25 years at Apple, Jennifer Bailey has decided to retire in October. During her tenure, Jennifer has made extraordinary contributions from leading the Apple Store Online through a period of significant growth and global expansion to overseeing the launch of Apple Pay. Under Jennifer’s leadership, Apple Pay has changed the way hundreds of millions of our users pay, with a simpler, more secure, and private experience.”
Bailey became a familiar face at Apple events over the years as the company expanded Wallet to support identification cards and digital keys for cars, homes, and hotels. Apple Pay has also grown into a major part of Apple’s services business since its introduction more than a decade ago.
Bloomberg describes Bailey’s retirement as a “major loss within Apple,” with her departure arriving during a broader leadership transition at the company. Senior communications director Josh Rosenstock is also leaving Apple in an unrelated move.
Cue said Apple remains committed to its long-term goal of “replacing the physical wallet,” while the company will announce its succession plan for Bailey before her departure at the end of October.
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