Apple Pay Could Account for 10 Percent of Global Card Transactions by 2025 and Even Rival PayPal

DeepIn2U

macrumors 603
May 30, 2002
6,386
1,819
Toronto, Ontario, Canada
100 percent of my credit card transactions are now done via Apple Pay on my Watch. Still have physical cards in my (increasingly small) wallet "just in case" but they are unused since long, long time.

Add to that things that were previously paid with coins (parking tickets, serving machines).

A very welcome change.
Unfortunately Apple Cash, Apple Card are still USA only. I wish they would come to Canada already.
 

Abazigal

macrumors G5
Jul 18, 2011
12,229
10,093
Singapore
How does Apple make money from this? late fees?
Stickiness in the Apple ecosystem. They get a 0.15% cut of all transactions, but that’s a drop in the bucket. There’s also the Apple Card.

I think it’s more about adding value to the Apple ecosystem and making people want to stick with their Apple devices than outright profit.
 

gnasher729

macrumors P6
Nov 25, 2005
16,648
3,315
really? I used Apple Pay for a larger over £30 shop in Tesco the other day!
I did however end up having a mini argument with an Asda checkout person the other week, she refused to press the EFT button telling me it wouldn’t work! I asked her to humour me.... so she did, and it worked! Lol
It doesn't depend on the company, it depends on the terminal. Old terminals see Apple Pay as a plain old contactless card (easily stolen, therefore low limits), more modern ones see it as Apple Pay (so the legitimate user must be there with his phone or watch, therefore high limits)
- - Post merged: - -

I've never run into a "maximum" where you must pay with card instead of Apple Pay. I've bought computers over $2000 with Apple Pay and my watch.... at the Microsoft Store! Locally (US, North Carolina) restaurants are the main holdout, as well as some small merchants. Most grocery stores take AP now, and Target finally caved in and accepted AP.
In the USA, where contactless cards are not that common, I expect they switch immediately to terminals with full support for Apple Pay. The terminals with low limits are years old. Replacing them is obviously expensive, but you wouldn't install them anymore.
 

jlwarlow

macrumors regular
Oct 10, 2008
112
14
Leicestershire, UK
Tesco here in the UK are the same with their payment method, however they aren’t stupid enough to not accept Apple and Google Pay.
Tesco is dumb in not allowing over £30 when using Apple/Google Pay. They're doing this to try and force you into using their Tesco Pay+, the only problem I have with that heap of junk app is it always logs me out even though it has a PIN/TouchId so when I try and use it I can't and have to use card. Signing in isn't easy as you need your 3rd, 9th, 54thwhatever number from you clubcard - I haven't got the time for that at the checkout.

I just read that someone has managed to use Apple pay over £30 in Tesco. None of those I've used do. Here's hoping they're rolling out the change everywhere!
 

nylonsteel

macrumors 6502a
Nov 5, 2010
831
43
sorta impressed aapl pay closing in on paypal
though PayPal was higher in purchase percentage pie
 

DeepIn2U

macrumors 603
May 30, 2002
6,386
1,819
Toronto, Ontario, Canada
They already have. iMessage lets you send money to/from friends using Apple Pay Cash.
again you have to be a USA citizen or your banking that sources the founds from a us account.

my Canadian debut card actually almost fully registers as ApplePay Cash since it’s a Visa for USA or international transactions above the debit card $100 limit yet I cannot send to anyone in Canada nor my sister whom lives in the USA since her banking is in Canada for her iCloud/financial transactions ~for the past year.
- - Post merged: - -

I haven’t used cash or inserted a debit card in almost 10 years, now Apple Pay everywhere, plus my driver’s license being on my phone... has basically made my wallet useless lol.
no cash withdrawals?
 

brgjoe

macrumors regular
Nov 6, 2014
197
103
Central IL, USA.
Have used Apple Pay since the iPhone 6 first came out. Love it. Still wish more places offered it (certain restaurants, ATM's and yeah, Walmart.), but for places that do -- it's been flawless ever since I started using it.

It's been great and will most likely only get better.
 

lartola

macrumors 6502a
Feb 10, 2017
617
184
This is an out of date reference as it no longer applies, because 1, they were refused by their own government, and 2, at least two of the four banks involved have now added support for Apple Pay.
It still applies in other countries as one of the reasons why it has taken them longer to roll out apple pay, though.
- - Post merged: - -

I just don't see it until the larger chains are added. In the past week I've bought stuff at Walmart, Frys Grocery (Kroger owned), and Home Depot and none of them support Apple Pay. I've also bought stuff from online from Chewy.com (pet supplies) and discounttire.com and neither of them support Apple Pay either.
Well, you do have other alternatives. Why do you keep shopping at the few places that don’t accept contactless payment/apple pay? you could buy groceries at Whole Foods or any store owned by Albertsons instead of going to walmart, for example. And for pet supplies there is petco.com and petsmart.com instead of Chewy.com. And you could go to ACE instead of Home Depot. You need to stop going to places not accepting contactless payment. When they lose you and many other customers is when they will react and change that.
- - Post merged: - -

I almost never use my Apple Card because it doesn’t support financial aggregation products like Quicken or Mint and I have no plans to start using it for anything more than Apple product purchases before it does.
Apple has already added support for exporting to such platforms now. They just did it a couple of days ago.
 
Last edited:

MisterSavage

macrumors 68000
Nov 10, 2018
1,962
1,725
Just used Apple Pay for the first time from a website and it was great. I didn't have to fill out my credit card info (obviously) but I also didn't have to fill out my shipping address because that came from my Apple Pay billing address.
 

lartola

macrumors 6502a
Feb 10, 2017
617
184
How does Apple make money from this? late fees?
They charge a fee per transaction to every bank that signs up with them to let its customers add their cards to wallet.
- - Post merged: - -

Just used Apple Pay for the first time from a website and it was great. I didn't have to fill out my credit card info (obviously) but I also didn't have to fill out my shipping address because that came from my Apple Pay billing address.
Yeah, but it doesn’t have to be your billing address you ship to when using apple pay on the web or in apps. If you need to ship to an address other than your billing address, you can add it in settings>wallet & apple pay on your device and later just select it from the drop down list whenever you make purchases with apple pay in apps or on the web.
- - Post merged: - -

I'm almost at pure Apple Pay here in Houston. Just need HEB to get on board. Convenient stores and smaller shops also don't support Apple Pay for some reason. Other than that, I use it a lot. Certainly a lot more than two years ago.
Here in Mexico it’s exactly the opposite way. Small shops, sit down restaurants, gas stations and government offices all support contactless payments and I can use apple pay at all those places, but the medium and large size chains of supermarkets, convenience stores and other kinds of stores as well as pay at the front cafeterias nearly all have NFC disabled and only take chip cards (and Samsung Pay over MST, of course).
- - Post merged: - -

They already have. iMessage lets you send money to/from friends using Apple Pay Cash.
But it’s only available for Apple’s customers in the US. He clearly said “didn’t need to be in the US”, implying he’d like to use the service elsewhere.
 
Last edited:
  • Like
Reactions: martyjmclean

lartola

macrumors 6502a
Feb 10, 2017
617
184
Here in the states a lot more stores are accepting contactless but it pales in comparison to Europe. When I travel to Russia almost every store has a terminal.

Even restaurants bring a portable terminal to you and don’t take your card to who knows where.
Exactly. But I’m afraid we won’t see those portable terminals at any US restaurants ever. They simply refuse to use portable terminals and come up with all kinds of alternatives such as apps or QR codes to avoid using them at any cost.
- - Post merged: - -

Apple needs to convince Kroger's, Lowe's, Macy's to accept Apple Pay. A local grocer accepts Apple Pay, but not Kroger's.
Macy‘s does take apple pay. They were one of the first merchants to jump on board.
- - Post merged: - -

Unfortunately Apple Cash, Apple Card are still USA only. I wish they would come to Canada already.
At least in Canada you can still set up apple pay with other bank cards to use it in stores. Here in Mexico, The USA‘s other USMCA partner, Apple Pay still can’t be used with any locally issued cards (though it can still be used once set up with supported cards from other countries).
 
Last edited:

lartola

macrumors 6502a
Feb 10, 2017
617
184
no cash withdrawals?
He clearly said he hasn’t needed to use cash. Besides, even if he did need to get some cash, several banks in the US such as BofA or Wells Fargo already have ATMs with built in NFC readers where cash withdrawals can be made using apple pay instead of inserting a card.
 

kirky29

macrumors 65816
Jun 17, 2009
1,459
298
Lincolnshire, England
Tesco are trialling higher value payments e.g. Apple Pay with a view to a national roll out later on in the spring but it’s not in all stores yet; I work for them and it’s not live in our store yet.

My local Asda, which I seldomly frequent, had signs saying Apple/Google Pay was capped at £30 the other week on their self service tills so it’s either a selected number of stores *or* the signage was out dated?
Ah interesting, maybe my local Tesco is part of the trial, their card machines did look clean, so could have recently had an upgrade. I work for Sainsbury’s and all of their stores don‘t cap now. :)
 

DeepIn2U

macrumors 603
May 30, 2002
6,386
1,819
Toronto, Ontario, Canada
He clearly said he hasn’t needed to use cash. Besides, even if he did need to get some cash, several banks in the US such as BofA or Wells Fargo already have ATMs with built in NFC readers where cash withdrawals can be made using apple pay instead of inserting a card.
I asked because here in Toronto (Canada) the big 4 banks at major intersections and head branches I've yet to see or hear about NFC readers for cash withdrawals. Would be nice.
 

lartola

macrumors 6502a
Feb 10, 2017
617
184
I asked because here in Toronto (Canada) the big 4 banks at major intersections and head branches I've yet to see or hear about NFC readers for cash withdrawals. Would be nice.
Likewise here in Mexico. Many ATMs from several of the country’s big banks do have an NFC reader, but I’ve never seen a single one of them that has the darn thing turned on and actually working. We also don’t have any vending machines that accept credit cards, let alone contactless; there seems to be an unwritten rule in Mexico that all credit and debit card payments must be processed by a person, so vending machines and any other self service machines that take payments (such as the ones in parking lots or the self service kiosks from companies such as phone service providers or the country’s electricity provider) are all cash only.
 
Last edited:

iGeek2019

macrumors regular
Jul 26, 2019
121
110
United Kingdom
Ah interesting, maybe my local Tesco is part of the trial, their card machines did look clean, so could have recently had an upgrade. I work for Sainsbury’s and all of their stores don‘t cap now. :)
If Sainsbury’s lead the way with automatic selection for the Nectar Card in the Wallet app that would be great too.
We are in the process of getting new hardware and printers which are an absolute god send on our checkouts which, fingers crossed, means >£30 Apple Pay is just around the corner!