According to Bloomberg, Jennifer Bailey, the executive in charge of Apple Pay and Apple Wallet at Apple, will retire in October this year. Bailey has worked at Apple for over 25 years and has been leading the Apple Pay business since its launch in 2014. She has also overseen the expansion of Apple Wallet, the introduction of Apple Card, and fraud prevention efforts. Eddie Cue, Apple's head of services, announced the news in an internal memo, stating that Bailey will continue to support the team as an advisor during the transition period. Bailey's retirement is seen as a significant loss for Apple, and the company will announce its succession plan by the end of October.