Mark Gurman, Bloomberg (gift link):

Apple Inc.’s Jennifer Bailey, the longtime head of Pay and Wallet services, is retiring after more than two decades at the company, adding to a sweeping changing of the guard at the iPhone maker.

Apple services chief Eddy Cue announced her departure in a staff memo seen by Bloomberg News. Bailey, who has been vice president of Apple Pay since its launch in 2014, is exiting in October, he said.

Apple Pay and Wallet have quietly become two of my most-used services. I use them literally every day for public transportation, airline boarding passes, and to unlock my front door using Home Key and Unlock on Approach. And, of course, payments, both online and off. (The little da-ding! for a successful transaction remains an indescribable delight.) My Apple Pay and Wallet usage is outpaced only by Messages and Passwords. Maybe.

On a recent trip to Japan, I needed a transit card to ride Tokyo’s (excellent) public transportation system. A few taps on my iPhone while I was standing at the station, and I had a Suica card in Apple Wallet, paid for by Apple Pay, and activated at the turnstile with a gentle tap via Express Mode. It couldn’t have been simpler.

Bailey and team built something extraordinary. Congratulations to her on a well-earned retirement.