Apple Pay is 'Growing at a Tremendous Rate' With 5X More Transaction Volume Than Last Year
During today's second quarter earnings call, Apple CEO Tim Cook spent some time talking about the success of Apple Pay, which he says is "growing at a tremendous rate." According to Cook, Apple Pay transaction volume is up 5X compared to a year ago and Apple Pay is gaining 1 million new users per week.
Across all of the countries where Apple Pay is available -- the U.S., UK, Canada, Australia, China, and Singapore -- Apple Pay is now available at more than 10 million contactless locations, including 2.5 million in the United States.
Despite its growth, Apple Pay does not provide a significant amount of revenue for Apple, but Apple CFO Luca Maestri says the company is interested to see how Apple Pay progresses in the future.
During the call, Cook said Apple Pay would expand to additional locations "soon," in line with rumors and evidence suggesting Apple Pay will soon be available in Spain, Hong Kong, Brazil, Japan, and France. For Spain and Hong Kong, Apple Pay will be introduced through a partnership with American Express in 2016, and a leaked MasterCard document points towards MasterCard support in Brazil, Hong Kong, Japan, and Singapore.
In addition to expanding Apple Pay's availability, Apple is also rumored to be working on several new features to increase its appeal, including the ability to make purchases from websites and the ability to make person to person payments as is possible with services like Square Cash and Venmo.
Popular Stories
Apple today introduced the iPhone 16e, its newest entry-level smartphone. The device succeeds the third-generation iPhone SE, which has now been discontinued.
The iPhone 16e features a larger 6.1-inch OLED display, up from a 4.7-inch LCD on the iPhone SE. The display has a notch for Face ID, and this means that Apple no longer sells any iPhones with a Touch ID fingerprint button, marking the ...
Over the years, Apple has switched from an aluminum frame to a stainless steel frame to a titanium frame for its highest-end iPhones. And now, it has been rumored that Apple will go back to using aluminum for three out of four iPhone 17 models.
In an investor note with research firm GF Securities, obtained by MacRumors this week, Apple supply chain analyst Jeff Pu said the iPhone 17, iPhone...
Now that Apple has announced its new more affordable iPhone 16e, our thoughts turn to what else we are expecting from the company this spring.
There are three product categories that we are definitely expecting to get upgraded before spring has ended. Keep reading to learn what they are. If we're lucky, Apple might make a surprise announcement about a completely new product category.
M4...
Wednesday February 19, 2025 11:38 am PST by
Juli CloverFollowing the launch of the iPhone 16e, Apple updated its iOS 18, iPadOS 18, and macOS Sequoia pages to give a narrower timeline on when the next updates are set to launch.
All three pages now state that new Apple Intelligence features and languages will launch in early April, an update from the more broader April timeframe that Apple provided before. The next major point updates will be iOS ...
In a social media post today, Apple CEO Tim Cook teased an upcoming "launch" of some kind scheduled for Wednesday, February 19.
"Get ready to meet the newest member of the family," he said, with an #AppleLaunch hashtag.
The post includes a short video with an animated Apple logo inside a circle.
Cook did not provide an exact time for the launch, or share any other specific details, so...
Apple finally released the first beta of iOS 18.4 to developers for testing purposes, and while the beta is lacking some of the Apple Intelligence features we were hoping for, there are some notable new additions.
Subscribe to the MacRumors YouTube channel for more videos.
Priority Notifications - Apple Intelligence
There is a new Priority Notifications feature that can show you your most...
Apple today announced its first custom cellular modem with the name "C1," debuting in the all-new iPhone 16e.
The new modem contributes to the iPhone 16e's power efficiency, giving it the longest battery life of any iPhone with a 6.1-inch display, such as the iPhone 15 and iPhone 16.
Expanding the benefits of Apple silicon, C1 is the first modem designed by Apple and the most...
Apple has confirmed that its custom-designed C1 modem in the iPhone 16e has nothing to do with the device's lack of MagSafe support, according to Macworld.
Following the launch of the iPhone 16e, there was some speculation online about how MagSafe magnets might have interfered with the C1 modem's cellular connectivity performance, and this was considered to be a potential reason for the...
