Apple Pay is growing at a fast pace at the moment, the Apple company announcing last night that the number of users tripled in 2016, the number of transactions increasing by 500%. We are talking here about all the countries where Apple Pay is available, the Apple company expanding the service in many European countries during the last year.
Apple Pay transacted billions of dollars in Q4 2016 alone for Apple customers using the service, with 13 countries having Apple Pay available at the moment. Apple had to "fight" with the banks in these countries to offer the service, most of them not willing to accept the terms of those from Cupertino regarding the commission charged for transactions.
Apple Pay was launched in 2014 by the Apple company together with the iPhone 6 and remains an exclusive service available in certain Apple products. Apple had to create an entire network of partners to facilitate mobile transactions in the US, but in other countries it relied on the existing compatibility of payment points with NFC to facilitate mobile payments.
At the moment, Apple Pay is an important mobile payment system, but far from having a substantial market share in any country where it is offered. In 2017, Apple Pay will be launched in new countries in Europe and that it is substantially older, but it remains to be seen how much.
