Apple Pay revenue and transactions ‘more than double’ in the year

Apple Pay revenue and transactions have “more than doubled year-over-year with the run rate exceeding 15bn transactions a year,” Apple CEO Tim Cook has revealed.

Apple CEO Tim Cook
APPLE CEO: ‘Thrilled’ to report biggest quarter ever

“We’re thrilled to report Apple’s biggest quarter ever, which set new all-time records in both revenue and earnings,” he explained during the iPhone-maker’s first quarter 2020 earnings call.

Cook also referred to the rollout of Express Transit mode, Apple Pay’s payment method that forgoes authentication in favour of getting iPhone users speedily through public transport turnstiles.

“Apple Pay transit support expanded with customers paying for journeys on Transport for London more easily with Apple Pay Express Transit,” said Cook.

“And in spring of 2020, iPhone and Apple Watch customers will be able to simply tap to ride trains and buses in even more cities, including Shenzhen and Guangzhou.”

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