Apple Pay in the US is steadily growing, consumer-wise in the latest research.
Researchers in 2022 claimed that Apple’s payment platform exceeded MasterCard’s in terms of annual transaction dollar value by a large margin. Mastercard had around $4.8 trillion while Apple Pay enjoyed approximately $6 trillion. However, Merchant Machine, a popular comparison service said that Apple Pay has fallen in popularity versus MasterCard.
The drop in popularity could mean Apple Pay has lower transaction numbers compared to MasterCard instead of dollar value. In light of this, Apple Pay has made it to the list of the top five payment platforms in the US. Visa takes the first spot at 15.08%, while MasterCard and PayPal sit at number two and three, respectively with 10.98% and 10.7%. In fourth place is American Express at 9.97%.
For the global market, Apple Pay also sits in fifth place with 7.37%.