I hadn’t thought of it in this context when it was announced at WWDC. Even the title of the article left me wondering what this was about. But as soon as that first picture loaded on screen, it all clicked. Really interesting insight into how Wallet and Apple Pay is evolving to tie into Apple’s stringent policies on encryption and privacy.
And the point about trust is also an important factor here. People are familiar with Apple and are more likely to be comfortable moving and storing their money directly on Apple’s system versus something like Bitcoin which most people feel is some out-of-reach sophisticated system of currency.
Another thing that comes to mind is that in countries like Germany where people prefer to use cash over credit or debit cards, perhaps the barrier to entry could be reduced slightly for small shops that want to accomodate ApplePay since they could simply accept “Apple Cash” onto an Apple device of their own.