Apple Pay Could Account for 10 Percent of Global Card Transactions by 2025 and Even Rival PayPal
Apple Pay could account for 10 percent of global card transactions by 2025 and pose a serious challenge to rivals like PayPal, according to recent trend data compiled by research firm Bernstein.
Drawing from the data, Quartz reports that Apple Pay currently accounts for about 5 percent of global transactions. If that growth trend continues, it may well become a long-term competitive threat to PayPal – and could even end up competing with Visa and Mastercard if it chose to set up its own payments network much further down the line.
Apple Pay probably won't pose a challenge to the card giants anytime soon. While the tech company could, in theory, create its own network that runs outside the card systems, Bernstein argues that Apple still needs the card networks, which are ubiquitous and trusted. Visa and MasterCard, meanwhile, are used to dealing with partners (traditionally large card-issuing banks) with the kind of scale that even Apple Pay could muster.
The same may not be true for other wallets. "Apple Pay is indeed one of the long-term competitive threats to PayPal," Bernstein analysts wrote. For now, PayPal has a commanding lead in the world of online checkouts, and also benefits from network effects that have been building up since the turn of the century. But Apple and PayPal could end up competing for the same turf in the coming years.
Apple's advantage over other digital payments includes its pre-installed Wallet app for iPhone and its tight control over the NFC technology contained within the device that can process contactless payments.
However, that tight control could cause headaches for Apple if it is perceived as a way to block competition. Apple argues that its policies are strictly for security purposes, but it has already run into difficulties in Australia, where big banks want access to the iPhone's NFC function for a competitive level playing field.
The company has also faced a backlash in in Germany, where a parliamentary committee recently passed an amendment to an anti-money laundering law that could force Apple to open up the NFC chip in iPhones to competing mobile payment providers.
In November 2019, the European Union's competition commissioner Margrethe Vestager acknowledged that her department has received "many concerns" over Apple Pay and potential anticompetitive issues.
Popular Stories
While the iPhone 17 Pro and iPhone 17 Pro Max are not expected to launch until September, there are already plenty of rumors about the devices.
Below, we recap key changes rumored for the iPhone 17 Pro models as of April 2025:
Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro models have a titanium frame, and the iPhone ...
Apple may have updated several iPads and Macs late last year and early this year, but there are still multiple new devices that we're looking forward to seeing in 2025. Most will come in September or October, but there could be a few surprises before then.
We've rounded up a list of everything that we're still waiting to see from Apple in 2025.
iPhone 17, 17 Air, and 17 Pro - We get...
Apple is preparing a "bold" new iPhone Pro model for the iPhone's 20th anniversary in 2027, according to Bloomberg's Mark Gurman. As part of what's being described as a "major shake-up," Apple is said to be developing a design that makes more extensive use of glass – and this could point directly to the display itself.
Here's the case for Apple releasing a truly all-screen iPhone with no...
The first iOS 19 beta is less than two months away, and there are already a handful of new features that are expected with the update.
Apple should release the first iOS 19 beta to developers immediately following the WWDC 2025 keynote, which is scheduled for Monday, June 9. Following beta testing, the update should be released to the general public in September.
Below, we recap the key...
Apple's upcoming foldable iPhone (or "iPhone Fold") will feature two screens as part of its book-style design, and a Chinese leaker claims to know the resolutions for both of them.
According to the Weibo-based account Digital Chat Station, the inner display, which is approximately 7.76 inches, will use a 2,713 x 1,920 resolution and feature "under-screen camera technology." Meanwhile, the...
A common complaint about the iPad Pro is that the iPadOS software platform fails to fully take advantage of the device's powerful hardware.
That could soon change.
Bloomberg's Mark Gurman today said that iPadOS 19 will be "more like macOS."
Gurman said that iPadOS 19 will be "more like a Mac" in three ways:Improved productivity
Improved multitasking
Improved app window management...
Apple is working on a new version of the Vision Pro with two key advantages over the current model, according to Bloomberg's Mark Gurman.
Specifically, in his Power On newsletter today, Gurman said Apple is developing a new headset that is both lighter and less expensive than the current Vision Pro, which starts at $3,499 in the U.S. and weighs up to 1.5 pounds.
Gurman said Apple is also...
Apple has confirmed that it will be permanently closing its retail store in the heart of Bristol, England, and there is no replacement in sight.
Apple Bristol in 2023
Apple Bristol will be closing its doors on Saturday, August 9, due to redevelopment plans at the Cabot Circus Shopping Centre, and the adjacent Bristol Shopping Quarter. According to news reports, and a building application, the ...
Apple in October 2024 overhauled its 14-inch and 16-inch MacBook Pro models, adding M4, M4 Pro, and M4 Max chips, Thunderbolt 5 ports on higher-end models, display changes, and more. That's quite a lot of updates in one go, but if you think this means a further major refresh for the MacBook Pro is now several years away, think again.
Bloomberg's Mark Gurman has said he expects only a small...
