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Apple's payment service was introduced in the USA in October 2014. Now the wait is over in Germany.
With Apple Pay, iPhones and Apple Watches can replace debit or credit cards. Simply holding the device up to the terminal initiates the payment process. In July, Tim Cook announced the end of the wait with the words "Apple Pay is launching in Germany later this year". The community was over the moon - Apple Pay will be launched in Germany this year. He did not give an exact launch date at the time. After countless rumors and speculation, the time has finally come. Apple Pay is now available in Germany.
Apple's current banking partners
Agreements with the individual banks are necessary for payment processing - Apple has to conclude separate contracts for this. Apple recently published a list of participating banks in this country for the first time. Apple's banking partners include Deutsche Bank, Hypo Vereinsbank, Hanseatic Bank, Fidor, Comdirect, O2 Banking, N26, bunq, boon, Vimpay and Edenred. Visa, MasterCard + Maestro and American Express are also involved.
One in four iPhone owners with Apple Pay
The iGroup does not usually provide specific user numbers. Cook only announced that over a billion transactions were recorded with Apple Pay in the first half of 2018. A report by analyst Gene Munster from Loup Ventures shows that 253 million Apple customers use the payment service, 38 million of whom live in the USA and the rest internationally. This means that almost one in four iPhone owners uses Apple Pay. According to the market research report, Apple itself does not earn much from it yet. If you add up all the sales from Apple's services division, the revenue from Apple Pay only amounts to one to two percent.
If you take a close look at the growth of the payment service, it quickly becomes clear that this is just the beginning.
