“The Wall Street Journal claims Apple Pay made $30 million for Apple in its last financial year,” Jonny Evans writes for Apple Must. “If Apple Pay made $30 million for the company, then what’s the charge Apple makes?”
“Some reports claim Apple takes 15 cents out of every $100 of transactions,” Evans writes. “(That’s a percentage of 0.15 percent.)”
Evans writes, “If this is true, then (please correct me if I’m wrong), then to make $30 million, Apple Pay must have been used to transact around $20 billion in purchases.”
Read more in the full article here.
MacDailyNews Take: As Evans notes, in some markets Apple Pay transactions are capped at a ridiculously low amount (£30 [$40] the UK, for example), so Apple Pay was actually used in a huge number of transactions in 2016.
SEE ALSO:
Apple Pay promised to make plastic obsolete, but wary shoppers and confused clerks hinder adoption – April 5, 2017
Retail survey: Apple Pay now being accepted at more retailers than any other mobile payments service – February 22, 2017
Apple Pay transactions are growing at a rapid rate – November 30, 2016
Apple Pay messaging at point-of-sale drives 135% increase in mobile payments usage – November 21, 2016
Apple Pay at two years: Not much to celebrate – yet – October 20, 2016
What’s wrong with Apple Pay? – August 5, 2016
Apple Pay’s frequency of usage is putrid – August 3, 2016
Apple Pay and wannabes must offer perks to grow – December 14, 2015
Starbucks, KFC, and Chili’s to accept Apple Pay this year – October 8, 2015
Barclays to bring Apple Pay to the UK in early 2016 – October 7, 2015
Some Best Buy stores are now accepting Apple Pay – September 18, 2015
MCX CEO gone a day after Apple Pay lands Best Buy – April 28, 2015
Best Buy capitulates, to accept Apple Pay despite CurrentC allegiance – April 27, 2015
Major retailers see Apple Pay wave – November 17, 2014
In only 3 weeks, Apple Pay is changing how consumers pay – November 17, 2014
Boycott CVS and Rite Aid – October 27, 2014
Bad business: CVS and Rite Aid antagonize their most well-heeled customers by blocking Apple Pay – October 27, 2014
CVS stores reportedly disabling NFC to shut down Apple Pay – October 25, 2014
iPhone users earn significantly more than those who settle for Android phones – October 8, 2014
Yet more proof that Android is for poor people – June 27, 2014
More proof that Android is for poor people – May 13, 2014
Apple’s iOS dominates in richer countries, Android in poorer regions – March 25, 2014
Twitter heat map shows iPhone use by the affluent, Android by the poor – June 20, 2013
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]