Apple Pay transaction volumes are up 100% year-on-year

More than 1.8bn Apple Pay transactions were conducted last quarter, CEO Tim Cook has revealed during the company’s Q1 2019 earnings call. That number is “well over twice the volume of the year-ago quarter,” he revealed.

Apple CEO Tim Cook
“HUGE SUCCESS”: Apple CEO Tim Cook

The rollout of Apple Pay in Germany “has been a huge success”, Cook added, “with Deutsche Bank reporting more activations for Apple Pay in one week then for Android in an entire year.”

“This is yet another example of what’s possible when you bring together Apple’s world-class hardware, software and ecosystem with our engaged and active user base,” Cook said. “Shoppers around the world love Apple Pay and it has increasingly become an indispensable part of daily life.”

Cook also used Apple Pay as an example of the way in which Apple is tackling the task of expanding the revenues of its services business.

“We are also broadening the scope of many of these services,” he explained. “If you take Apple Pay as an example, it started off as the most convenient, most private and most secure way to make a payment in a store or in an app. Then we took Apple Pay to Safari, then we started a peer-to-peer service and we’re launching it in new markets across the world every quarter, so we are broadening that scope.”

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