Hamburg-based secondary market research firm yStats.com has released a comprehensive profile on Apple Pay. The new “Apple Pay Profile 2019” summarizes the latest figures on Apple Pay’s usage and growth, while also providing a detailed overview of the wallet’s features and recent news digest.
Apple Pay to maintain strong growth by 2020
Since its launch in 2014, Apple Pay has become one of the leading mobile payment services in the USA. According to the yStats.com research, Apple Pay ranks second among all mobile payment services used in-store and first among the mobile wallets from operating equipment manufacturers (OEMs). Furthermore, with the continuous international expansion, Apple Pay is adding new users outside of the USA and is projected to see a double-digit growth through 2020. Some of the latest markets entered in early 2019 include Saudi Arabia and the Czech Republic.
Acceptance rates of Apple Pay rise, as competition intensifies
In addition to the rising number of users, Apple Pay is also growing its acceptance rates among brick-and-mortar and E-Commerce merchants. In the USA, its reach covers the top 100 retailers and nearly two-thirds of overall merchant locations, according to latest statistics cited by yStats.com. At the same time, Apple Pay is facing strong competition as the number of mobile wallets offered by OEMs, banks, telecoms, merchants and other providers continues to rise.
