Apple Pay is catching up with PayPal, analysts claim

Roger Fingas for AppleInsider:

“….Apple Pay is poised to narrow the volume gap with rival platform PayPal in next few years, according to Morgan Stanley analysts.

“Apple Pay transactions are forecast to reach $190 billion in 2022, and $304 billion by 2027, the firm said in a memo issued on Wednesday. That ranks against PayPal figures of $431 billion and $579 billion, respectively, though excluding any offline wallet possibilities, which could theoretically add as much as $257 billion to PayPal’s volume by 2027.

“While PayPal has “the best consumer penetration by far,” Apple is “the clear leader among app/phone-based digital wallets…

“…We expect the new Apple Card…  will help drive up Apple Pay awareness and usage…”

Apple Pay Watch
Apple Pay for everything.

MacDailyNews Take: Apple Pay is one of the company’s least well-appreciated assets. Adoption in some markets may feel slow, but as it builds out its service with additional features (like Apple Card), success feels more inevitable than forgetting your PIN number when you are trying to settle your hotel bill. Also, don’t forget:

Will you apply for Apple Card poll results

Related articles:
Apple changes the world yet again; soon every credit card work like Apple Card – May 24, 2019
Apple employees are beginning to get their Apple Cards – May 13, 2019
Why the Apple Card is the gleaming future of money – April 29, 2019
Analyst: Apple Card to be a ‘significant player in the U.S. card market’ – April 4, 2019

5 Comments

  1. Wish there was a law for merchants that required terminals and/or systems must be used. Otherwise, no dice for small operators that refuse to get on the bandwagon. Some are actually still using swipe which is ridiculous.

    1. Once again a GOP hypocrite demands government intervention to make the world conform his narrow views.

      A small business owner should always have the right to choose what point of sale systems work best for him. Period.

      On another topic, small business owners should never be placed at a disadvantage to mega corporations when it comes to hiring because of the insane policy in the USA that healthcare should be subsidized by your employer via their sweetheart negotiating with insurance companies that routinely refuse to do business with small companies or individuals at any reasonable price. The health care bias is the primary reason that so many otherwise intelligent people allow themselves to become drones and professional email pushers at mindless beige corporate offices. Which is what Apple is now, by the way.

  2. Imagine if Apple’s marketing team actually advertised Apple Pay in a huge ad campaign. Imagine if people actually realized how awesome Apple Pay is. Everyone I know has an iPhone. None of them know that Apple Pay even exists.

    Another Apple clusterfsck, brought to you by Tim Cook

  3. Apple Pay usage feels slow because it has been. I love it, but very few places use it. In Japan, this is one area they lag far behind – IT professionals. Therefore businesses are paranoid of online anything. Family Mart here just had either $55,000 or $550,000 (forgot) of customer money stolen by two Chinese thugs being able to get into the accounts. Anyway, I don’t know much, except I’m for secure payment and I think Apple Pay is the most secure.

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