New research claims that Apple Pay has surpassed Mastercard in the dollar value of transactions annually, with its $6 trillion total meaning it’s over halfway to equaling Visa.
Since its launch in 2013, Apple Pay has seen rising adoption by users, banks, and retailers, until in 2021 it accounted for 92% of all mobile wallet debit transactions.
Now, according to comparison site TradingPlatforms, Apple Pay is the second most popular digital payment system, beaten only by Visa. The top-ranking Visa processes approximately $10 trillion worth of transactions per year, with Apple Pay on over $6 trillion.
It means that for the first time, Apple Pay has a whole — including Apple Card — has overtaken Mastercard, which processes approximately $4.8 trillion worth of transactions. Apple Pay has also beaten Alipay, which reportedly processes exactly $6 trillion worth of transactions.
Google’s G Play is said to be in fifth place, with around $2.5 trillion worth of transactions.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
