Apple Pay processed US$600 billion to $700 billion in funds in 2022, estimates MoffettNathanson analyst Lisa Ellis.
It’s additionally gaining market share in on-line “branded” checkout (seeing Apple Pay as an choice for a cost), she wrote in a word on Tuesday — as famous by Barron’s.
Apple Money—a P2P platform and money again service—hasn’t been so profitable, she writes. The Apple Card has been solely a “modest” hit with 7.5 million customers.
Nonetheless, whereas iPhone customers can obtain apps such PayPal and Venmo, the extent of ease of utilizing an Apple app on Apple {hardware} might be extra glue for Apple and fewer stickiness for rivals.
“Apple has emerged as essentially the most formidable Massive Tech participant in Funds, as a result of its scale, dedication, assets, and affluence of its person base,” Ellis stated in her word.
