Alternative Payment Solution: Apple Pay

Date: March 16, 2018
Pages: 23
Price:
US$ 350.00
License [?]:
Publisher: GlobalData
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: A4F74E61654EN
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Alternative Payment Solution: Apple Pay
Alternative Payment Solution: Apple Pay

SUMMARY

Apple Pay is a mobile payment solution launched by Apple in October 2014. At present, the solution is available in 24 markets outside the US. The solution allows users to store their card details for future payments. Users simply need to hover their mobile devices near a contactless terminal and authenticate the transaction with Touch ID, Face ID, or a PIN, depending upon their Apple device.

The solution is accepted at more than 20 million retail outlets globally and supports all major payment networks, including American Express, Visa, Mastercard, and China UnionPay. In the US alone, it is accepted at more than 4.5 million merchant locations and is supported by over 2,200 banks and financial institutions including major brands such as Bank of America, Capital One, Chase, Citibank, and Wells Fargo. Users can store their debit, credit, and store card details on Apple Pay and can use the details to make payments at merchant outlets.

In addition to in-store payments, Apple Pay offers services such as online payments, in-app payments, and cash withdrawals at ATMs. In October 2017, Apple Pay expanded its services to peer-to-peer (P2P) payments, allowing users to make fund transfers among friends and family members using Apple Pay Cash.

Apple Pay is available on a number of Apple devices including the iPhone X, iPhone 8, iPhone 8 Plus, iPhone 7, iPhone 7 Plus, iPhone 6, iPhone 6 Plus, iPhone 6s, iPhone 6s Plus, iPhone SE, iPad (5th generation), iPad Pro, iPad Air 2, iPad mini 4, iPad mini 3, and the Apple Watch.

The report provides information and insights into alternative payment solution Apple Pay including -
  • Detailed insight into its business
  • Comprehensive coverage of its products and services
  • Comparative assessment with key alternative payment solutions
  • Information on its performance, including its revenue model
  • The company's important events and milestones
SCOPE
  • Since it was launched in the US in October 2014, Apple Pay has expanded into 24 other markets.
  • In the US, Apple Pay is accepted at nearly 4.5 million merchant locations and is supported by over 2,200 banks including major brands such as Bank of America, Capital One, Chase, Citibank, and Wells Fargo.
  • In December 2017, Apple Pay launched Apple Pay Cash, enabling users to make P2P fund transfers among family and friends.
  • The solution is accepted at more than 20 million retail outlets globally and supports all major payment networks, including American Express, Visa, Mastercard, and China UnionPay.
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.


NOTE: Out of security concerns GlobalData requires using corporate email address.
Overview
Geographical Presence
Historic Milestones
Benchmarking
Performance Highlights
Revenue Model
Products and Services
Significant Events
Partner Banks and Financial Institutions
Partner Banks and Financial Institutions in the US
Supporting Merchants in the US
Appendix

COMPANIES MENTIONED

Apple
Visa
Mastercard
American Express
UnionPay
Western Union
Bank of America
Capital One
Chase
Citibank
Wells Fargo
DBS
Sberbank
Ulster Bank
KBC Bank
Nordea
HSBC
China Construction Bank
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