Even if the calculations are a bit off, as Apple Pay sits on top of other payment networks, it’s unfathomable to think what it has become in the years since it was introduced to low expectations.
Apple Pay is increasingly becoming the go-to payment method for consumers and businesses alike. The fact that it has now processed more transactions than Mastercard is a testament to its popularity. Already, it has outdone Mastercard with only VISA remaining on top. Apple Pay has an undue advantage and benefits from their monopoly on iPhone NFC hardware. We expect to see Apple Pay continue to grow in popularity and market share in the coming years.
Apple Pay transactions ranking
Mastercard is actually the fourth largest payment company now, after Visa, Apple, and the Chinese system AliPay, while Google Pay is fifth, even though Apple doesn’t do much processing per se, bur rather piggybacks on existing infrastructure.
