Yahoo Finance – The reach of Apple Pay has steadily expanded since the service was launched in October 2014. In two short years Apple (AAPL) has expanded the service to 13 countries, with four of them added last year – Japan, Russia, New Zealand and Spain.
During the first quarter 2017 earnings call, Apple CEO Tim Cook noted that Apple Pay’s volume was up over 500% compared to last year even as the total number of users tripled during the period. Apple Pay experienced the same level growth in the fourth quarter of 2016 as well, which means the current trend has enough momentum to continue for some more time.
“Apple Pay transactions were up nearly 500% year-on-year for the September quarter. In fact, we completed more transactions in the month of September than we did across all of fiscal 2015.” – Tim Cook, CEO Apple fourth-quarter 2016 earnings call
According to a recent survey conducted by Boston Retail Partners, Apple Pay is now accepted by 36% of the retailers in the U.S., with another 22% expected to start accepting Apple Pay in the next 12 months.
Read Full Article: Apple Pay Already Accepted at a Third of US Retail Outlets