Alternative Payment Solution: Apple Pay
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Apple Pay is a mobile payment solution launched by Apple Inc (Apple) in October 2014. At present, the solution is available in 14 markets outside the US: the UK, Australia, Canada, China, France, Hong Kong, Singapore, Switzerland, Russia, New Zealand, Japan, Spain, Ireland, and Taiwan.
Apple Pay is available on a number of Apple devices including the 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.
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The solution is accepted across 11 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 nearly 4 million merchant locations and is supported by over 1,800 banks including major brands 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, it also offers services such as in-app payments and cash withdrawals at ATMs. In September 2016, Apple Pay expanded to website payments, allowing users to shop on websites on the Safari browser with iPhone, iPad, and Macs.
The report provides information and insights into alternative payment solution Apple Pay, including -
- Detailed insight into its business and geographical presence
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment competitors
- Information on its performance, including its revenue model
- The company's important events and milestones
- Since it was launched in the US in October 2014, Apple Pay has expanded into 14 other markets: the UK, Canada, Australia, China, France, Switzerland, Hong Kong, Singapore, Russia, New Zealand, Japan, Spain, Ireland, and Taiwan.
- In the US alone, it is accepted at nearly 4 million merchant locations and is supported by over 1,800 banks including major brands Bank of America, Capital One, Chase, Citibank, and Wells Fargo.
- As of July 2016, three out of four contactless transactions in the US were conducted via Apple Pay (Source: Apple)
- The number of Apple Pay transactions registered year-on-year growth of 500% in Q4 2016. (Source: Apple)
- This report provides a comprehensive overview of alternative payment solution Apple Pay, including its operations, history and geographical presence.
- It provides an overview of products and services offered, and explanations on how they work.
- It provides details of financial performance, including revenue models.
Key Attributes of Report:
- Gain insights into Apple Pay's business operations, geographical presence 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.
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