With Apple Pay, iPhone and Apple Watch can replace debit or credit cards. Simply holding the device up to the terminal initiates the payment process.
Apple's payment service was introduced in the USA in October 2014. Now Apple Pay is finally coming to Germany. This was announced by Tim Cook when the company released its last quarterly figures. The iGroup does not usually provide specific user numbers. Cook only announced that over a billion transactions were recorded with Apple Pay in the first half of the year.
A report by analyst Gene Munster of Loup Ventures shows that 253 million Apple customers use the payment service, 38 million of whom live in the USA and the rest internationally. This means that almost one in four iPhone owners uses Apple Pay. According to the market research report, Apple itself is not yet making much money from it. If you add up all the sales from Apple's services division, the revenue from Apple Pay only amounts to one to two percent.
If you take a close look at the growth of the payment service, it quickly becomes clear that this is just the beginning.
