Apple Pay purchases increased by 500% year-over-year

Apple Pay purchases increased by 500% year-over-year
As part of its latest earnings call, Apple revealed that Apple Pay transactions have increased 500% year-over-year in the past quarter. The surge is so strong that September saw more purchases than all of the company's fiscal 2015 combined.

Apple hasn't reflected on the factors which influenced the spike, but we can assume it has something to do with all the expansion that the service has been going through. Recently, Apple added partnerships with 24 U.S. banks to its ranks, and this year, it launched Apple Pay in China, as well as countries like Australia and Canada. The company is now moving onto Japanese territory as well.

Considering that Apple Pay is still not available in a great many places and with limited store support, the company certainly has a lot of room to grow its mobile payments service in the future.

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16 Comments

1. darkkjedii

Posts: 30971; Member since: Feb 05, 2011

I use it at Subway all the time. Comes in handy, cause the tard in the morning can't make my sandwich right, so no tip.

8. darkkjedii

Posts: 30971; Member since: Feb 05, 2011

LMAOOOOO

5. tedkord

Posts: 17312; Member since: Jun 17, 2009

Damn. What's he doing to your sandwich?

7. darkkjedii

Posts: 30971; Member since: Feb 05, 2011

He's always in a rush, and makes it uneven.

10. tedkord

Posts: 17312; Member since: Jun 17, 2009

Dude is making minimum wage. I'm pretty liberal with tipping, you've pretty much got to throw the food in my face to get no tip.

12. darkkjedii

Posts: 30971; Member since: Feb 05, 2011

Yeah, but this dude sucks bro. I'm a tipper myself, but at least earn it.

2. Unordinary unregistered

Its the most used mobile payment service with the most accepted banks and credit unions. Doesnt surprise me. Now with iOS 10 and macOS Siera, Apple Pay across the web. Also, Touch ID coming to thursdays macbooks. Will be sweet.

4. Unordinary unregistered

edit: Leaked (accidental) photo directly from Apple today confirming Touch ID with the new Macbook Pros coming out this Thursday https://imgur.com/a/WceSw

6. TBomb

Posts: 1405; Member since: Dec 28, 2012

Theres about 7 billion people in the world. (googled it) Theres about 3.5 billion of them have access to the internet (googled it) Apple Pay is now available to an additional 1.4 billion people (china, australia, and canada) plus any other countries added in the last year. (googled it) iPhone global Marketshare was 16.1% in 2015, so I'll add an additional 1.9% just because its 2016 now to make it 18%. (https://9to5mac.com/2016/01/28/iphone-global-shipments-marketshare/) so if everyone had access to internet had a smartphone (3,500,000,000 people), that would mean 18% of the world's smartphone users has access to Apple Pay which is about 630,000,000 people. Now with a 500% increase, that would mean that it jumped 6 times the amount from last year. The amount of people i see who actually use Apple Pay is slim to None. I see minimal amount of payments from a smartphone being made from any OEM. So i'd like to know how many of those transactions were from reoccurring people or just 1 offs testing it out and saying "meh."

9. darkkjedii

Posts: 30971; Member since: Feb 05, 2011

Dude, you need a woman.

14. tedkord

Posts: 17312; Member since: Jun 17, 2009

That was like a theory tying classical and quantum physics together, only more complex.

16. TBomb

Posts: 1405; Member since: Dec 28, 2012

Dont hate :(

15. xondk

Posts: 1904; Member since: Mar 25, 2014

Eh, remember, 500% increase from what to what, very low numbers can increase 500% and still be low. With no mention of previous numbers, this really absolutely says nothing.

11. therealestmc

Posts: 679; Member since: Jul 23, 2012

I have been using Apple Pay for at least 50 percent of my purchases.

13. tedkord

Posts: 17312; Member since: Jun 17, 2009

I've been using Samsung Pay for almost everything only because the chip makes cards so slow, at least three times as long as the old swipe, and doesn't even add any real security without a pin. If they speed up the chip readers, there'll be less reason to use it.

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