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Competitor Profile: Apple Pay

Competitor Profile: Apple Pay


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 simply need to hover their mobile device near a contactless terminal and authenticate the transaction with Touch ID, Face ID, or a PIN, depending on the Apple device used.

The solution is accepted at more than 20 million retail outlets globally and supports all major payment networks. In the US alone, it is accepted at more than 65% of all merchant locations and is supported by nearly 3,000 banks and financial institutions. These include major brands such as Bank of America, Capital One, Chase, Citibank, and Wells Fargo. The solution is available in 36 markets.

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 peer-to-peer (P2P) payments, allowing users to make fund transfers among friends and family members using Apple Pay Cash.

The report provides information and insights into Apple Pay including -

  • Detailed insight into its business and geographic presence
  • Comprehensive coverage of its products and services
  • Comparative assessment with key competitors
  • Information on its performance, including its revenue model
  • The company's important events and milestones.
  • Since it was launched in the US in October 2014, Apple Pay has expanded into 36 other markets.
  • Apple Pay is accepted at 65% retail locations in the US, and is supported by over 3,700 banks globally including major brands such as Bank of America, Capital One, Chase, Citibank, and Wells Fargo.
  • In December 2017, Apple Pay launched Apple Pay Cash, enabling users to make P2P fund transfers among family and friends.
  • In March 2019, Apple partnered with Goldman Sachs to launch a virtual credit card: Apple card, which can be integrated with Apple Pay.
Reasons to buy
  • Gain insights into Apple Pay's business operations, and key events.
  • Gain insights into its product portfolio and revenue model.
  • Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.

Historic Milestones
Performance Highlights
Revenue Model
Products & Services
Significant Events
Partner Banks and Financial Institutions Globally
Partner Banks and Financial Institutions in the US
Supporting Merchants in the US

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