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Apple Pay to account for 10% of global card transactions by 2025

Apple Pay is on track to account for around 10% of all global card payments by the middle of this decade, according to new research published by investment firm Bernstein.

Analysts at the company believe that the popularity of Apple Pay, which is currently used for 5% of card transactions, will eventually see it rival e-payment behemoth PayPal.

They noted: “For now, PayPal has a commanding lead in the world of online checkouts, and also benefits from network effects that have been building up since the turn of the century.”

The analysts believe that this advantage could be whittled away in the 2020s and that Apple will probably end up challenging its rival “for the same turf”.



However, it is unlikely to trouble Visa or Mastercard any time soon as both corporations operate at a scale with large card-issuing banks that Apple Pay is unlikely to be able to match in the coming years.

The future is bright for Apple Pay and rival Google Pay and contactless payment transactions in general though.

A separate report released on Wednesday by Juniper Research found that total transactions could surpass $6tn by 2024 with Apple Pay a key growth driver.

By that time, Apple Pay will have a 52% share of OEM Pay transactions, which is a 9% increase on its current share.

The report noted that the recent expansion of Apple’s mobile payment and digital payment services into new regions such as the Far East & China will fuel more usage by 2025.

Apple also has a head start on competitors in terms of privacy, which has become more of a focus for the company.

Apple operates strict governance on NFC tech installed in its iPhones in order to protect users from fraud, and it could argue that competitors’ apps do not meet the same standards.

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About the author

Chris

I've been a passionate evangelist for Apple and the Macintosh throughout my working life, my first love was a Quadra 605 working with a small creative agency in the south of Norfolk UK in the mid 1990's, I later progressed to other roles in other Macintosh dominated industries, first as a Senior graphic designer at a small printing company and then a production manager at Guardian Media Group. As the publishing and printing sector wained I moved into Internet Marketing and in 2006 co-founded blurtit.com which grew to become one the top 200 visited sites in the US (according to Quantcast), at its peak receiving over 15 million visits per month. For the last ten years I have worked as an Affiliate and Consultant to many different business and start ups, my key skill set being online marketing, on page monetisation, landing page optimisation and traffic generation, if you would like to hire me or discuss your current project please reach out to me here.

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