Apple Pay mobile adoption is up 52% worldwide, PayPal down 8%

From "Apple Pay Tops PayPal This Holiday Season. It’s Adding Users at a ‘Rapid’ Pace." posted Monday by Barron's:

The holidays have been merry for Apple Pay so far but less so for PayPal Holdings .

That’s the deduction Deutsche Bank analyst Bryan Keane made looking at Salesforce e-commerce spending data, which showed Apple Pay taking market share at an “extremely rapid pace.” So far for November, Apple ‘s mobile payment adoption was up 52% year-over-year globally and 59% year-over-year in the U.S. Meanwhile, PayPal ‘s growth in the same period has fallen 8% globally and 4% in the U.S.

"We continue to expect PayPal will face the steepest competition in the coming months and years from Apple Pay,” Keane said in his note on Tuesday.

But despite the growing shift toward Apple Pay, PayPal, one of the oldest fintech companies, remains the dominant payment type. PayPal makes up roughly 16% of all global e-commerce purchases compared with Apple Pay’s 5% share. In the U.S., PayPal makes up 15% of all U.S. purchases and Apple accounts for roughly 6%.

My take: So, Apple didn't quite "top" PayPal, did it? Still, a modest fee on a ton of transactions adds up over time.


  1. Robert Paul Leitao said:
    When analysts stop fixating on iPhone unit sales and supply numbers, choose to look around, they might see an Apple world filled with opportunities!

    November 29, 2022
  2. Jerry Doyle said:
    PayPal has unleashed the past year what seemingly to me is an aggressive promotional campaign to increase use of the company’s payment option program. Apple Pay’s quickly rising adoption rate surprises me little. The immediate cash back program option of Apple Pay is attractive and the use of its payment option system along with all the informative delineated financial data associated with Apple Pay transactions with your devices are extremely convenient. The other mobile adopters fall short and it seems that they are struggling to compete with Apple in this arena as Apple has the technological skills, knowledge, experience and one plus billion consumer devices that just lend itself to using Apple Pay as your logical mobile payment option.

    WS analysts always focus on the iPhone revenue while wearing blinders that preclude their seeing all the other Apple service revenues that the company is generating into its coffers; all gathering momentum in abundance and boatloads of new increased revenues. Apple’s Fintech business remains in its embryonic stages of growth. The future for increased financial consumer services from Apple looks very bright, indeed.

    I tell any young person to invest in Apple, keep buying as many shares as possible and within a few decades you will be a millionaire. I see that much growth ahead for this company. And I laugh when I remember CNBC Joe Kernen amazingly saying on air when Apple’s market cap reached 500 million that the company was no longer “investable” because it was too large to continue growing. 🙂

    November 29, 2022
    • Steven Philips said:
      Of course in several decades a million dollars will buy you a week’s worth of groceries. Or fill the gas tank of your thirty year old SUV! 🙂

      November 29, 2022
  3. Fred Stein said:
    Yesterday, WSJ, “JPMorgan, Other Banks in Talks to Reimburse Scammed Zelle Customers”

    Last Saturday took family to dinner and paid with Apple Pay through a QR code. Super easy and fast. Not long ago, Apple Pay at restaurants was cumbersome.

    Apple Pay is the most secure, friction fee, crypto payment. Unlike the ponzi scheme cryptos, Apple Pay does not seek to replace proven ubiquitous fiat currencies and all the proven rails and guard-rails.

    November 29, 2022
  4. John Blackburn said:
    Apple Pay was near universal during our recent stay in the south of France. Maybe used a credit card twice in the month we were there. Even in the smaller villages using Apple Pay was no big deal.


    November 29, 2022
  5. Gregg Thurman said:
    Not everybody has an iPhone. Instead of focusing on global mobile pay share, I’d like to see Apple Pay’s share of mobile payments among iPhone owners.

    After all, Apple Pay usage share is limited to iPhone users.

    November 29, 2022
  6. Gregg Thurman said:
    It just occurred to me that PayPal’s primary use is not mobile pay. It is a payment service for those without merchant credit card accounts. Look at the credit card terminal at the top of this article. I see payment options for credit cards and Apple Pay. I don’t see an option for PayPal.

    November 29, 2022
  7. John Butt said:
    I removed myself from PayPal when I got concerned about their security of information flow to advertisers. I only used it online prior to that.
    All online purchases I now make I prioritise Apple Pay.

    Many Apple MacOS and iOS users may be heading in that direction

    November 29, 2022
  8. David Baraff said:
    Off topic: I believe the bottom is in for AAPL. Why do I say that? Simple: just read an article, that the always bearish Kass has gone short on Apple.

    Tells me everything I need to know…

    November 29, 2022

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