Apple Payments Chief Jennifer Bailey to Retire in October 2026 After Over 20 Years

Jennifer Bailey, Apple's long-time head of payments and wallet services, will retire. Having spent more than 20 years at the company, she has served as vice president of the business since the launch of Apple Pay in 2014 and plans to step down in October 2026. Eddy Cue, Apple's services chief, announced the news in an internal memo, stating that a succession plan will be revealed before Bailey leaves at the end of October. She will continue to support the transition in an advisory capacity.

Bailey's payments division has driven Apple's expansion into financial services. Apple Pay allows users to make purchases in stores and online, and has given rise to products such as Apple Card and the recently introduced device upgrade subscription plans. The payments service is estimated to generate more than $7.5 billion in annual revenue for Apple, making it a significant factor in retaining iPhone users.