Jennifer Bailey, Apple's Vice President overseeing the Apple Pay and Wallet Business, graced the conference with her presence. There, she expounded on the developmental vision for Apple's wallet business, as well as the service value inherent in Apple Pay. Presently, Apple Pay's reach spans 89 regions across the globe, providing support to more than 11,000 financial institutions and card networks. In the U.S. market alone, it is accepted by 90% of retailers. Over the past year, Apple Pay has proven instrumental in thwarting over US$1 billion in fraudulent credit and debit card transactions on a global scale. This achievement has translated into a more than 60% reduction in fraud rates when juxtaposed with traditional payment methods. Moreover, Apple Pay facilitates the addition of various services, including identification documents and electronic transit cards. The 'iPhone Card Lock' feature, which Apple unveiled in 2022, has also been rolled out in multiple locations. The robust security of Apple Pay can be attributed to its utilization of payment tokenization technology. This innovative approach ensures that crucial card information remains unnecessary during the payment process, thereby enhancing security.