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Apple Pay use is booming

Apple Pay reader

Apple Pay, the digital wallet that lets iPhone-owners pay for goods and services by swiping their phone over a reader, is enjoying huge success, according to new research from analyst Gene Munster.

Munster and his team at Loup Ventures said that 252 million iPhone users around the world use Apple Pay. That works out as 31% of the total install base.

Interestingly, 85% of those are in countries outside of the United States (US). The US’s payment infrastructure lags behind Europe in particular, with contactless payment terminals not as prevalent. 24 countries around the world support Apple Pay.

Apple has not commented on the figures, but revealed during its recent quarterly results that there were over one billion transactions on the service between April and June this year.

Munster reckons Apple Pay transactions will jump by 200% in the next 12 months, driven by new features such as Apple Pay Cash and the release of new iPhones in September.



Category: News
Tagged: apple
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