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Apple Pay on pace to account for 10% of global card transactions • Quartz
John Detrixhe:
<p>Apple’s mobile wallet is gobbling up a growing chunk of card payments around the world. As the service grows, it’s becoming a greater challenge to rivals like PayPal and attracting the attention of competition watchdogs.

Apple Pay accounts for about 5% of global card transactions and is on pace to handle 1-in-10 such payments by 2025, according to recent trend data compiled by Bernstein, a research firm. “There are indeed plenty of reasons to worry that Apple may attempt to disrupt the payments ecosystem,” Bernstein analysts, led by Harshita Rawat, wrote in a research note.</p>

My initial reaction to this was "that's got to be nonsense - someone at Bernstein has dropped a few zeros." The story says digital payments are about $1trn in revenue, while Visa and Mastercard process more than $14trn annually, and growing.

But: assume 750m iPhone users globally (slightly under the figure estimated by Neil Cybart of Above Avalon, around the number that most people use for handy calculations). For Apple Pay to be 5% of the $1trn would make it the avenue for $50bn of transactions. Crazy? But that's only $66 per iPhone per year paid by Apple Pay. Given its lack of payment limit, a few big spenders buying big-ticket items (such as iPhones on their Apple Credit Card, on which they get cashback) could easily make up for large numbers of non-Apple Pay users.

OK, what about the bigger, $14trn number? Well: 5% of $14trn is $700bn, or $933 per iPhone per year. Now you definitely need your big spenders to make up for those who don't use Apple Pay, but it's feasible: assume one user for every two non-users (so an Apple Pay user base of 250m), and it's $2,800 per year, or a bit more than $50 every week. Some people spend that much on coffee per week. Little things add up.
11 days ago by charlesarthur
Die Wallet iCard von kann jetzt auch
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Zahlungsmethoden, die du mit deiner Apple-ID verwenden kannst - Apple Support
Hier erfährst du, mit welchen Zahlungsarten du Musik, Filme, Apps, Bücher, iCloud-Speicher und mehr kaufen kannst.
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App Store Connect Help: Create a sandbox tester account
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