Chase Execs Used A Secret Code To Signal When They Could Talk About Apple Pay

Just days after Tim Cook announced Apple Pay — the company’s new mobile payment platform — we’ve learned just how hard Apple tried to keep news of the platform secret.

Apple wouldn’t let any of its payment partners talk about Apple Pay until Tim Cook unveiled the program himself, according to The New York Times’ Nathaniel Popper.

Executives at JP Morgan’s Chase division went so far as to use a secret code to signal when it was ok to talk about their company’s involvement in Apple Pay.

Chase chief financial officer Marianne Lake was on stage at a conference around the same time Tim Cook was introducing the iPhone 6 to the masses, but was forbidden to mention Apple Pay until Cook did.

But when one of Lake’s colleague’s put a green Apple on the table next to her, she knew the coast was clear to discuss the new platform.

“So we are very excited about Apple Pay, and Chase customers will be able to participate in that,” Lake reportedly said to the audience.

Apple hopes that partnering with major financial institutions like Chase will galvanize consumers to get on the Apple Pay bandwagon.

Apple is also rumoured to be discussing loyalty programs with some retailers that it hopes will drive mobile wallet adopters towards Apple Pay instead of its Android counterpart, Google Wallet.

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