The Apple executive in-charge of Apple Pay and Apple Wallet is set to retire later this year, according to a new report by Bloomberg's Mark Gurman.

Jennifer Bailey has been the company's only Vice President of Apple Pay, serving in this role since the service was launched in 2014.

Bloomberg's report says that the news was shared by Apple SVP of Services & Health, Eddy Cue, in an internal "staff memo." Cue reportedly told Apple Employees that:

“Under Jennifer’s leadership, Apple Pay has changed the way hundreds of millions of our users pay,”

and that

“Before Jennifer’s transition at the end of October, we will announce our succession plan, and Jennifer will continue to be available to support the transition in an advisory role.”

This suggests that we may receive an official public announcement of Bailey's departure in the coming weeks, along with a named successor.

During her time at Apple, Bailey has helped build and lead the world's biggest mobile payment service, according to Capital One Research. Their report, dated July 22nd 2026, reports an estimated 803 million Apple Pay users worldwide.

She has also been responsible for the recent enhancements to Apple Wallet, allowing Apple users to link their bank balance directly to the Wallet app, automatically track online orders, and view a breakdown of your monthly and yearly activity.

Bailey is expected to be one of the first executive departures under John Ternus' leadership as many members of Apple's leadership team are approaching or have passed the average retirement age.

Other Executive Departures

Image Credit: European Commission - Photographer: Lukasz Kobus

Apple has had a few executive departures in the past year.

Last summer, Apple's Chief Operations Officer Jeff Williams, retired, after almost 10 years in the role.

More recently, Apple's VP for the environment, Lisa Jackson (seen to the left of Tim Cook in the image above), and General Counsel, Kate Adams, announced their retirements in a joint Apple Press Release.

Most notably, Apple's long-term CEO, Tim Cook, who was chosen by Steve Jobs himself, will leave the role on 1st September. Though, Cook will remain at the company as Executive Chairman.