Apple Pay is a mobile payment solution launched by Apple Inc. (Apple) in US October 2014. At present, the solution is available in 10 markets outside the US: the UK, Australia, Canada, China, France, Hong Kong, Singapore, Switzerland, Russia and New Zealand. Apple Pay is available on a number of Apple devices including the iPhone 6, iPhone 6 Plus, iPhone 6s, iPhone 6s Plus, iPhone SE, iPad Pro, iPad Air 2, iPad mini 4, iPad mini 3, and the Apple Watch. Apple Pay is accepted at 11 million retail outlets globally, and supports all major payment networks including American Express, Visa, Master Card and China UnionPay. In the US alone, it is accepted at more than 3 million merchant locations and is supported by nearly 1,400 banks, including major banks like Bank of America, Capital One, Chase, Citibank and Wells Fargo. Users can store details of debit, credit and store cards on Apple Pay and can use the details to make payments at merchant outlets. In addition to in-store payments, it also offers services such as in-app payments and cash withdrawals at ATMs. Most recently in September 2016, Apple Pay expanded to website payments allowing users to shop on websites on the Safari browser with iPhone, iPad, and Macs.
The report provides information and insights into alternative payment solution Apple Pay, including:
- Detailed insight into its business and geographical presence
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment competitors
- Information on its performance, including its revenue model
- The company's important events and milestones
Reasons To Buy
- This report provides a comprehensive overview of alternative payment solution Apple Pay, including its operations, history and geographical presence.
- It provides an overview of products and services offered, and explanations on how they work.
- It provides details of financial performance, including revenue models.
- Gain insights into Apple Pay's business operations, geographical presence 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.
- Apple Pay was launched in US on August 2015, and expanded its services to the UK in July 2015 and Australia and Canada November 2015, respectively. It expanded to China in February, Singapore in April and Switzerland, France and Hong Kong in July 2016. In October 2016 it was introduced in two new markets: Russia and New Zealand.
- Apple Pay supports all major payment networks, including American Express, Visa, MasterCard, China UnionPay, and around 1,400 international and regional banks and credit unions.
- In 2015, estimated transactions worth US$10.9 billion were run through Apple Pay (source: Timetric).
- Geographical Presence
- History Milestones
- Key Acquisitions
- Competitor Analysis
- Performance Highlights
- Revenue Models
- Apple Pay partner Banks
- Apple Pay partner Banks in US
- Products and Services
- Significant Events