Apple Pay, the payment system that Apple has not yet offered to users in Turkey, has reached a boneless 6 trillion dollar transaction volume. Thus, the world’s largest and well-established payment network Mastercard has left behind.
Launched in 2014, Apple Pay is a system offered by technology giant Apple as an alternative to banks and electronic payment systems. Apple Card The payment system expanded and became popular among iPhone, Mac and Apple Watch users abroad. With the integration of credit cards, it has become a digital banking system for consumers over time, except for options such as credit.
According to a study by Loup Ventures, Apple Pay was used on only 10% of iPhones in 2016. In 2020, this rate exceeded 50% and today, with the effect of the pandemic, Apple Pay is one of the primary means of payment on 75% of iPhones used as.
Apple Pay, which is currently only available in 60 countries; reached a transaction volume of 6 trillion dollars per year:
In other words, according to the statistics of the last 1 year, Apple users can use Apple Pay. 6 trillion dollar transaction is performing. Alibaba’s payment system Alipay, which Apple left behind with this statistic, is close to 6 trillion dollars, while the volume of Mastercard, which comes right after it, is just under 5 trillion dollars.
Apple Pay has only one competitor left to become the world’s largest payment system: Visa
Visa’s annual transaction volume is 10 trillion dollars level. However, since Visa is used in almost every country in the world compared to Apple Pay, the number of banks and institutions it has agreements with is quite high. As the number of countries where Apple Pay is in use increases, we can say that Apple Pay can easily catch up with Visa.