“While there’s no way of knowing exactly how popular Apple Pay is with consumers—the company doesn’t break out user numbers or revenue it receives from those transactions—the ever-increasing number of retailers using the service suggests it’s growing in popularity,” Murphy writes. “Apple Pay is also taking off outside the US, where regions like Europe and Japan have more widespread adoptions of contactless payments.”
“During Apple’s last earnings call, CEO Tim Cook said the company set a revenue record for Apple Pay in the last quarter, adding: ‘Apple Pay is… by far, the #1 mobile contactless payment service worldwide. Transaction volume tripled year-over-year, and to put that into perspective, Apple Pay generated significantly more transactions than even PayPal mobile with over 4x the growth rate,'” Murphy writes. “In PayPal’s most recent earnings release, the company stated that 40% of its 2.5 billion payment transactions for the quarter were done over mobile, which means that Apple is seeing over 1 billion Apple Pay transactions each quarter, and that number is growing rapidly.”
Read more in the full article here.
MacDailyNews Take: It’s been seemingly taking forever, but the tortoise wins the race!
Apple Pay picks up new bank partners across Australia, Canada, New Zealand and the U.S. – January 22, 2019
Apple Pay coming to Target, Taco Bell and more top US retail locations – January 22, 2019
Apple solves decades-old problem as TD Ameritrade taps Apple Pay for instant fund transfers to accounts – January 15, 2019
Credit Suisse to use Apple Business Chat for rich Asian clients – October 2, 2018
DISH adds Apple Business Chat, allowing customers to connect with Messages on iPhone and iPad – July 20, 2018
Apple’s new Business Chat in iOS 11.3 is a huge deal – January 24, 2018
With Apple’s Business Chat, users can schedule appointments and process payments in iMessage – June 12, 2017