Apple Pay Could Soon Account For 10% Of Global Card Transactions

While Apple Pay is still somewhat limited in terms of availability, it seems that there are enough users who are using the service where according to data gathered by research firm Bernstein, they estimate that by 2025, Apple Pay could be big enough where it could potentially account for 1 in 10 global card transactions.

As it stands, Apple Pay can be used for both online and offline purchases, where users can make payments by tapping their iPhones or Apple Watches against compatible payment terminals at participating retailers. It can also be used for public transportation like in the US and Japan.

However, like we said, Apple Pay has yet to make its way to many parts of the world. We imagine that this is due to the fact that Apple Pay is essentially a financial service of sorts, and would require the cooperation of banks as well as agreements with local governments in order for the service to be used in various countries.

More recently, POS service provider has helped to make the payments process easier through a new feature called Scan to Pay, where users can scan a QR code printed on receipts and pay using Apple Pay, making it ideal for smaller businesses and also acting as an alternative to regular POS terminals.

Tyler Lee
Categories: Apple, Cellphones
Tags: Apple Pay