Apple Pay – Competitor Profile
Apple Pay is a mobile payment solution launched by Apple in October 2014. It allows users to store their payment card details to use for future payments. Users hover their mobile device near a contactless terminal and authenticate the transaction via Touch ID, Face ID, or PIN depending on the Apple device used. The solution is accepted at millions of retail outlets globally and supports all major payment networks. In the US alone it is accepted at over 90% of all retailers. Apple Pay is supported by more than 6,600 banks and financial institutions, including major brands such as Bank of America, Capital One, Chase, Citibank, BBVA, Santander, and Wells Fargo. Initially launched in the US, Apple Pay is now available in over 70 countries and regions.
In addition to in-store payments, Apple Pay offers services such as online payments, in-app payments, and cash withdrawals at ATMs. In December 2017, Apple Pay expanded its services to P2P payments, allowing users to make fund transfers among friends and family members using Apple Cash.
Apple offers the Apple Card credit card in partnership with Goldman Sachs and Mastercard. The card is available in both virtual and physical forms and can be applied for through the wallet. It can be used for online and in-store payments. In April 2021, the company launched Apple Card Family, enabling two people in a family to co-own an Apple Card and share the credit limit. The service also allows parents to share their Apple Card with their children while offering spending limits and controls.
In February 2022, Apple announced it would launch its “Tap to Pay on iPhone” feature in the US sometime in 2022. The feature allows merchants to accept Apple Pay and other contactless payment methods using their iPhone, without the need of an additional card reader or POS terminal. Stripe and Shopify will be the first payment service providers to offer the service for their merchants.
The report provides information and insights into Apple Pay including –
– Detailed insight into its business
– Comprehensive coverage of its products and services
– Comparative assessment with key alternative payment solutions
– Information on revenue model
– The company's important events and milestones
Scope
– In October 2014, Apple Pay was launched in the US.
– In September 2016, Apple Pay launched online payments, enabling users to shop in the Safari browser using an iPhone, iPad, or Mac.
– In June 2019 , Apple Pay partnered with Revolut to launch Apple Pay support to Revolut’s customers in 12 additional countries: Bulgaria, Croatia, Cyprus, Estonia, Greece, Latvia, Lithuania, Malta, Portugal, Romania, Slovakia, and Slovenia.
– In March 2022, Apple Pay expanded its services to Argentina and Peru.
Reasons to Buy
– Gain insights into Apple Pay's business operations and key events.
– Gain insights into its product portfolio.
– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Key Players
Table of Contents
Get in touch to find out about our multi-purchase discounts
reportstore@globaldata.com
Tel +44 (0) 20 7947 2960
Every customer’s requirement is unique. We understand that and can customize the report basis your exact research requirements pertaining to market insights, innovation insights, strategy and planning, and competitive intelligence. You can also avail the option of purchasing stand-alone sections of the report or request for a country specific report.
Still undecided about purchasing this report?
Testimonial
“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.
GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”
“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”
Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.
Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.