Quartz reports that Apple Pay accounts for about 5% of global card transactions and is on pace to handle 1-in-10 such payments by 2025, according to recent trend data compiled by Bernstein, a research firm.
“There are indeed plenty of reasons to worry that Apple may attempt to disrupt the payments ecosystem,” Bernstein analysts, led by Harshita Rawat, wrote in a research note.
Apple Pay generated $12.7 billion in revenue in the last three months of 2019, a 17% increase from a year earlier. And it’s one of the long-term competitive threats to PayPal, Bernstein analysts wrote.
