Dublin, June 16, 2025 (GLOBE NEWSWIRE) -- The "Competitor Profile: Apple Pay 2025" company profile has been added to ResearchAndMarkets.com's offering.
Apple Pay is a mobile payment solution launched by Apple in October 2014. It allows users to store their payment card details to use for future payments.
The report offers detailed information and insights into Apple Pay, including a thorough overview of its business operations, products and services, and a comparative assessment with key alternative payment solutions. It also covers Apple Pay’s revenue model, performance highlights, and outlines the company's important events and milestones.
Users hover their mobile device near a contactless terminal and authenticate the transaction via Touch ID, Face ID, or PIN depending on the Apple device used. The solution is accepted at millions of retail outlets globally and supports all major payment networks. Apple Pay is supported by more than 6,600 banks and financial institutions, including major brands such as Bank of America, Capital One, Chase, Citibank, BBVA, Santander, and
Wells Fargo. Initially launched in the US, Apple Pay is now available in more than 80 countries. In addition to in-store payments, Apple Pay offers services such as online payments, in-app payments, and cash withdrawals at ATMs. In December 2017, Apple Pay expanded its services to P2P payments, allowing users to make fund transfers among friends and family members using Apple Cash.
Apple offers the Apple Card credit card which is available in both virtual and physical forms and can be applied for through the wallet. It can be used for online and in-store payments. In June 2022, Apple launched Tap to Pay on iPhone in the US. This feature allows merchants to accept Apple Pay and other contactless payment methods using their iPhone, without needing an additional card reader or point-of-sale (POS) terminal.
In March 2023, Apple Pay launched its buy now pay later solution (BNPL) called Apple Pay Later in the US. The service enabled users to pay for purchases in four interest-free installments spread across six weeks. However, Apple discontinued the Apple Pay Later service in June 2024, with users now able to avail installment options through third-party providers such as Affirm instead.
Scope
- Learn about company's business proposition, and important achievements regarding product launches, partnerships, mergers, and acquisitions.
- Examine the company's operational and financial performance and benchmark it against its competitors.
- Detailed insight into company's current products and services mix.
Key Highlights
- In October 2014, Apple Pay was launched in the US.
- In March 2016, ExxonMobil partnered with Apple Pay to allow customers to pay their gas and car wash bills directly through their iPhone at 6,000 gas stations in the US.
- In June 2020, Apple Pay enabled integration of Hong Kong (China SAR) contactless transit card Octopus, allowing users to add Octopus cards to Apple Pay and make contactless transport payments using their phone.
- In January 2022, Apple added a feature for iPhone 12 devices and later, enabling users to authenticate payments via Apple Pay using Face ID while wearing a mask. The feature is accessible to users with iOS 15.4 or later operating system.
- In December 2024, Apple Pay officially launched in Egypt in partnership with three banks: the National Bank of Egypt, Banque Misr, and the Commercial International Bank (CIB).
Reasons to Buy
- Gain insights into Apple Pay's business operations 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.
Key Topics Covered:
1. Overview
2. Benchmarking
3. Revenue Model
4. Products and Services
5. Significant Events
6. Apple Pay's Ecommerce Market Share by Country
7. Apple Pay's In-Store Payments Market Share by Country
8. Partner Banks and Financial Institutions in the US
9. Supporting Merchants in the US
10. Appendix
For more information about this company profile visit https://www.researchandmarkets.com/r/k1tclh
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