Apple Pay now Accounts for Three-Fourths of U.S. Contactless Payments

by Sarah Grotta 0

A lot of information is being parsed from Apple’s recent earning announcement. Fortune focused on some comments regarding the growth of Apple Pay:

Apple reported better than expected earnings this afternoon, and one nugget shared on the call by CEO Tim Cook could be a good sign for the company’s mobile payments service. Cook said that according to retailers, Apple Pay now represents 75% of all contactless payments made in the U.S.

Apple is notorious for not providing much detail around Apple Pay statistics, and this announcement suggests that it is not about to change. Although Apple reported that their NFC based mobile wallet is responsible for 75% of all U.S. contactless payments, we don’t know if that is inclusive of non-NFC payments like bar-code based transactions. We are also not treated to an actual number or dollar volume of transactions.

What may be a little more interesting piece of information regarding Apple Pay is that half of transactions are from outside the U.S.:

Although Reuters recently reported that Apple Pay is struggling to drive usage outside the U.S., Cook said on the earnings call that half of transaction value from payments made through Apple Pay are coming from non-U.S. markets. Apple Pay is currently available in the U.S. the U.K., Switzerland, Canada, Australia, China, France, Hong Kong, and Singapore.

Overview by Sarah Grotta, Director, Debit Advisory Service at Mercator Advisory Group

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