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  • Frank Tian

🍎 Apple Pay Grows Big - How Big?

Recently an article about Apple Pay volume overtaking MasterCard is quickly circulating.

Well, it is not an Apple-to-Apple comparison.

Apple Pay is a Digital Wallet. MasterCard is a Payment Scheme.

A wallet hosts cards issued from the networks like MasterCard, Visa, Amex, etc.

The comparison is meant to make a point of Apply Pay’s steady growth but is used the wrong way to present.

To comprehend Apple Pay’s size in the payment market, take a look at this report from, which has tracked digital wallet pay for years. Mobile Wallet Adoption (August 2022)

🔲 Estimated volumes in 2022, in the US:

◾There are in total $6.5 trillion in-store retail sales

◾$4.9 trillion at merchants accepting Apple Pay

◾Only $200~ billion actually paid by Apple Pay, equivalent to 3 cents per dollar.

🔲 Looking from the Apple ecosystem perspective:

◾Apple captures 50%~ of smartphones in the US

◾75%+ merchants accept Apple Pay in store

◾Among those with iPhone in a store Apple Pay is accepted, 9 out of 10 do not use Apple Pay.


According to respondents in the survey, a contactless card is convenient enough.

Speaking from a personal experience, I always pull up a plastic when paying at the drive-through window - I am afraid to drop my phone.

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