According to a recent report this week from Loup Ventures, Apple Pay transactions are up and are continuously rising. Now, an estimated 31 percent of all iPhone users have used Apple Pay complete a transaction within the last year, when compared to the same time last year it was only 25 percent.
In Apple’s recent earnings call, no details were mentioned on how many users or anything related to the increase in how many transactions were made, but Tim Cook, Apple CEO did touch on that in Q3 2018 there were over 1 billion Apple Pay transactions, which is actually triple the amount from Q4 2017.
In the earnings call, Apple announced that worldwide, 4,900 banks are onboard and support Apple Pay. Since December last year, this has increased by 1,701.
Where can I use Apple Pay?
Apple Pay, is based on the contactless technology we are used to the in the UK, but as the authentication process is more secure than using chip and pin with a card, as it uses biometric authentication (either Touch ID or Face ID) there is effectively no limit on the transaction amount.
Apple Pay works in retail stores, on iPhone 6 or later and Apple Watch (1st generation and later). Apple Pay in apps and websites can be used on iPhones too, as well as iPad models with Touch ID built in and MacBook Pro models with Touch ID too.
In terms of country rollout, Apple has been doing a good job in rolling out Apple Pay to more and more countries. As of writing, Apple Pay is available in the following countries.
- United States
- United Kingdom
- Hong Kong
- New Zealand
Apple Pay in Germany will be rolled out later this year.
Source: Loup Ventures