Apple Pay is 'Growing at a Tremendous Rate' With 5X More Transaction Volume Than Last Year

During today's second quarter earnings call, Apple CEO Tim Cook spent some time talking about the success of Apple Pay, which he says is "growing at a tremendous rate." According to Cook, Apple Pay transaction volume is up 5X compared to a year ago and Apple Pay is gaining 1 million new users per week.

Across all of the countries where Apple Pay is available -- the U.S., UK, Canada, Australia, China, and Singapore -- Apple Pay is now available at more than 10 million contactless locations, including 2.5 million in the United States.

Despite its growth, Apple Pay does not provide a significant amount of revenue for Apple, but Apple CFO Luca Maestri says the company is interested to see how Apple Pay progresses in the future.

applepaytouchid
During the call, Cook said Apple Pay would expand to additional locations "soon," in line with rumors and evidence suggesting Apple Pay will soon be available in Spain, Hong Kong, Brazil, Japan, and France. For Spain and Hong Kong, Apple Pay will be introduced through a partnership with American Express in 2016, and a leaked MasterCard document points towards MasterCard support in Brazil, Hong Kong, Japan, and Singapore.

In addition to expanding Apple Pay's availability, Apple is also rumored to be working on several new features to increase its appeal, including the ability to make purchases from websites and the ability to make person to person payments as is possible with services like Square Cash and Venmo.

Related Roundup: Apple Pay

Popular Stories

Apple Watch Ultra Night Mode Screen

Apple Watch Ultra 3 Launching Later This Year With Two Key Upgrades

Wednesday July 2, 2025 1:13 pm PDT by
The long wait for an Apple Watch Ultra 3 appears to be nearly over, and it is rumored to feature both satellite connectivity and 5G support. Apple Watch Ultra's existing Night Mode In his latest Power On newsletter, Bloomberg's Mark Gurman said that the Apple Watch Ultra 3 is on track to launch this year with "significant" new features, including satellite connectivity, which would let you...
iPhone 17 Pro in Hand Feature Lowgo

iPhone 17 Pro Max Battery Capacity Leaked

Thursday July 3, 2025 5:40 am PDT by
The iPhone 17 Pro Max will feature the biggest ever battery in an iPhone, according to the Weibo leaker known as "Instant Digital." In a new post, the leaker listed the battery capacities of the iPhone 11 Pro Max through to the iPhone 16 Pro Max, and added that the iPhone 17 Pro Max will feature a battery capacity of 5,000mAh: iPhone 11 Pro Max: 3,969mAh iPhone 12 Pro Max: 3,687mAh...
iPhone 17 Pro Lower Logo Magsafe

iPhone 17 Pro's New MagSafe Design Revealed in Leaked Photo

Wednesday July 2, 2025 8:37 am PDT by
The upcoming iPhone 17 Pro and iPhone 17 Pro Max are rumored to have a slightly different MagSafe magnet layout compared to existing iPhone models, and a leaked photo has offered a closer look at the supposed new design. The leaker Majin Bu today shared a photo of alleged MagSafe magnet arrays for third-party iPhone 17 Pro cases. On existing iPhone models with MagSafe, the magnets form a...
Wi Fi WiFi General Feature

iOS 26 Adds a Useful New Wi-Fi Feature to Your iPhone

Wednesday July 2, 2025 6:36 am PDT by
iOS 26 and iPadOS 26 add a smaller yet useful Wi-Fi feature to iPhones and iPads. As spotted by Creative Strategies analyst Max Weinbach, sign-in details for captive Wi-Fi networks are now synced across iPhones and iPads running iOS 26 and iPadOS 26. For example, while Weinbach was staying at a Hilton hotel, his iPhone prompted him to fill in Wi-Fi details from his iPad that was already...
airpods pro 2

AirPods Pro 3 to Help Maintain Apple's Place in Earbud Market Amid Increasing Low-Cost Competition

Thursday July 3, 2025 7:25 am PDT by
Apple's position as the dominant force in the global true wireless stereo (TWS) earbud market is expected to continue through 2025, according to Counterpoint Research. The forecast outlines a 3% year-over-year increase in global TWS unit shipments for 2025, signaling a transition from rapid growth to a more mature phase for the category. While Apple is set to remain the leading brand by...
iOS 18

Apple Releases Second iOS 18.6 Public Beta

Tuesday July 1, 2025 10:19 am PDT by
Apple today seeded the second betas of upcoming iOS 18.6 and iPadOS 18.6 updates to public beta testers, with the betas coming just a day after Apple provided the betas to developers. Apple has also released a second beta of macOS Sequoia 15.6. Testers who have signed up for beta updates through Apple's beta site can download iOS 18.6 and iPadOS 18.6 from the Settings app on a compatible...
apple silicon mac lineup 2024 feature purple m5

Apple's Upcoming Macs Listed in New Report

Thursday July 3, 2025 9:09 am PDT by
AppleInsider's Marko Zivkovic today shared a list of alleged identifiers for future Mac models, which should roll out over the next year or so. The report does not reveal anything too surprising, but it does serve as further evidence that Apple is seemingly working on new models of every Mac, including the MacBook Air, MacBook Pro, iMac, Mac mini, Mac Studio, and Mac Pro. Apple is...

Top Rated Comments

neuropsychguy Avatar
120 months ago
I sometimes go out of my way to use Apple Pay. It's been nearly flawless in all the times I've used it.
Score: 13 Votes (Like | Disagree)
CPx Avatar
120 months ago
Person-to-person would be great.
Score: 10 Votes (Like | Disagree)
_mdavenport Avatar
120 months ago
Ability to pay in websites would be a very welcome addition. Peer-to-peer would be interesting as well, especially if integrated with Siri...

"Hey Siri, send $10 to John for tacos." Then simply authenticate with Touch ID.
Score: 6 Votes (Like | Disagree)
Chupa Chupa Avatar
120 months ago
Apple Pay on eBay would be huge & great way to bypass PayPal. Now that eBay has divested PP I wonder if that is doable.
Score: 5 Votes (Like | Disagree)
username: Avatar
120 months ago
Something I was wondering though - how does it work with the watch? Do you just wave the watch at the terminal, or does it need the fingerprint too?

Just wondering how you do it one handed with the watch.
Just wave the watch, no finger print needed

Love Apple Pay in the UK. A fair amount of support for it here. I feel insulted when a store makes me get my wallet out, like "who do you think you are making me put all this effort in to give you money" lol
Score: 4 Votes (Like | Disagree)
nortofthe13th Avatar
120 months ago
I sometimes go out of my way to use Apple Pay. It's been nearly flawless in all the times I've used it.
I have to confess. I do this quite often. :)
Score: 4 Votes (Like | Disagree)