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Analyst: revenue from Apple Pay, Apple Card, Apple Cash will exceed $1 billion this year

In a note to clients — as noted by Apple 3.0 — Cowen analyst Krish Sankar says revenue from Apple Pay, Apple Card, and Apple Cash, doubling and redoubling, will exceed US$1 billion in 2020.

“The Apple Pay, Card, and Cash products (payments platform) collectively have shown robust 100%+ Y/Y growth in recent years and with the ongoing COVID-19 virus we believe usage and penetration of Apple’s digital payments offerings has only accelerated further,” he writes. “While Apple has portrayed these digital services as complementary to its mobile hardware platforms, we believe future scaling out of these services globally coupled with increasing depth and sophistication of them could position Apple as an emerging contender in the fintech space. We conservatively forecast overall Apple payments platform revenues will exceed $1B for the first time in CY20 [calendar year 2020] and quickly exceed $2B by CY22. “

Dennis Sellers
the authorDennis Sellers
Dennis Sellers is the editor/publisher of Apple World Today. He’s been an “Apple journalist” since 1995 (starting with the first big Apple news site, MacCentral). He loves to read, run, play sports, and watch movies.