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Apple Pay grows faster



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Apple Pay has grown rapidly in recent months. According to Tim Cook, the payment service is said to have increased its transaction volume four times as fast as Paypal. Already at the analysts’ conference on the numbers at the end of July, Tim Cook had pointed out that Apple Pay is growing faster than Paypal. Now the Apple boss substantiated this finding. In the final quarter of the Apple fiscal year, the group has therefore booked three billion transactions on Apple Pay. This corresponds to a doubling of transactions and sales compared to the same quarter of the previous year, says Cook. Apple Pay grew four times faster than Paypal, according to Cook.

In any case, Cook has been talking about an all-time high in terms of payments from the payment area in recent months. However, the comparison with the previous year can be enjoyed with some caution: in the summer and early autumn of 2018, Apple Pay was not even active in some markets like Germany. In this country, Apple Pay started in mid-December – the run on the service but at least exceeded the expectations of the banks. Overall, Apple Pay is now active in 49 markets and can count on 6,000 participating banks and companies. In Germany, among others, Deutsche Bank, ING, DKB, Comdirect and Klarna and N26 on board. 

In order to boost the iPhone sales, Apple wants to enable users of the in-house credit card “Apple Card” to be able to extend the purchase of a smartphone without interest over 24 months. The iPhone business had slowed in the past three-month period – by a good nine percent to 33.4 billion dollars. For the current Christmas business, however, Apple was more optimistic about the new iPhones. In addition, devices such as the Apple Watch computer watch and the Airpods earphones as well as the subscription services business are becoming increasingly important to the Group.

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