Mobile payments are an imminent future. And I'm not talking to most tech blog readers, but to the general user. As soon as the user proves it voluntarily or on the recommendation of his bank, the user uses this means of payment preferably, for its simplicity.
In Spain we are in the middle of the list in terms of the adoption of this type of technology, at the top are countries in the center of Europe and Asia. It is surprising that the US is not leading this ranking.
Well days ago Magazine Wolf Ventures conducted an in-depth study of Apple's payment service. Apple Pay would have reached the figure of 252 million worldwide. This figure is only 20% of Apple users. Therefore the service still has a long way to go. Cook himself announced weeks ago that there were more than 1.000 billion transactions with Apple Pay during the company's third fiscal quarter (second quarter of the calendar year).
But also the magazine values having growths of 200% in the interval from one year to the next. Another aspect to take into account regarding Apple's payments service is the greater adoption of payments outside the US compared to domestic payments. Only 15% of Apple's total payments are produced in the US.
With the addition of new countries, it makes sense that internationalization has been the key driver for Apple Pay. There are currently 24 countries where Apple Pay is accepted, soon to be 25 with the addition of Germany later this year. We now estimate a total Apple Pay user base at approximately 253 million.
Only 38 million in the US where there are around 300 million inhabitants. Today, Apple Pay revenue for Apple is around 1% or 2%. But the study indicates that Apple may win the battle for several reasons:
Apple has several advantages to marking the iPhone as the Premium digital wallet, given its ability to integrate payments into mobile and desktop operating systems, use its brand to win retailers that accept and support banks, and assure users that transactions they are secure and private. Separately, Apple Pay is the only digital wallet with all five payment pillars: mobile, desktop, in-app, point-to-point, and point-of-sale.
Some of these Serbs, such as point-to-point payment, have not reached Spain, but we hope that it will become universal.
