Apple just pulled a fast one, with its recently launched digital wallet and payments service, Apple Pay, as it nabs 90 percent of all mobile contactless transactions everywhere the service is active.
With Apple Pay now in 20 markets worldwide, which represents a whole 70 percent of the world’s card transaction volume, underscores Apple's approach to moving first to markets where the mobile money has kicked off.
Apple Pay allow instant payment by just tapping the terminal with your credit card instead of swiping and waiting for payment to the mobile device.
While Apple Pay has admittedly had fair share of bumpy roads, and bound to encounter more as it continues roll out around the world, mobile contactless payments has been a favored payments method by a wide margin.
The Apple advantage points to using phones as a proxy for a card or cash, and there is some anecdotal evidence that it’s working.
And the fact that merchants and others who have partnered with Apple say that Apple Pay is accounting for 90 percent of all mobile contactless transactions globally in markets where it’s available.
Apple also announced plans to launch the service in Denmark, Finland, Sweden, and the UAE in the next few days, which brings the total number of countries where it is operated to 20. And there are now 4,000 credit and debit card issuers whose cards can be uploaded and used with Apple Pay.
