Apple Teams with American Express to Expand Apple Pay Presence

Apple and American Express are teaming up to expand Apple Pay availability in what CEO Tim Cook called "key global markets." Mr. Cook announced the partnership with Amex during Apple's 2015 fourth fiscal quarter earnings conference call Tuesday afternoon.

Apple and American Express bringing Apple Pay to Canada, Australia this yearApple and American Express bringing Apple Pay to Canada, Australia this year

American Express will offer Apple Pay to its eligible card holders in Australia and Canada before the end of the year, and in Spain, Singapore, and Hong Kong in 2016.

Apple Pay is Apple's mobile payment system for iPhone 6, iPhone 6s, and Apple Watch owners. Instead of swiping credit cards through reader terminals, NFC chips in the iPhone handle the transaction. The system is more secure than regular transactions because your credit card number is never handed off to retailers.

Apple reported US$51.5 billion in revenue for the quarter with earnings at $11.1 billion. That's a big jump up from last year's $42.1 billion in revenue and $8.5 billion in earnings.

The partnership with American Express was announced after JPMorgan Chase revealed it is teaming up with Merchant Customer Exchange's CurrentC mobile payment system that won't be launching until some time in 2016.

Apple's Q4 2015 earnings conference call is still under way, so be sure to check in with The Mac Observer for the latest announcements from the event.