Apple’s services and subscription revenues have skyrocketed over the past few years as the company developed value-added services instead of hardware only revenue. Apple Pay is one of these, a purchasing technology that uses traditional credit card mechanics in a modern way through utilizing powerful technology.
Even though Apple Pay launched just a few years ago in only one country, the technology now accounts for 5% of global credit card purchases. The data was discovered by the financial research firm Bernstein and published in a recent report. Bernstein claims that Apple is on track to manage 10% of global transactions by 2025.
Read More: Apple Will Manage 10% Of Global Credit Card Transactions By 2025, Analyst Says
