Skip to main content

Out with the old and in with the new

New research claims that Apple Pay has surpassed Mastercard in the dollar value of transactions annually, with its $6 trillion total meaning it’s over halfway to equaling Visa.

Since its launch in 2013, Apple Pay has seen rising adoption by users, banks, and retailers, until in 2021 it accounted for 92% of all mobile wallet debit transactions.

Now, according to comparison site Trading Platforms, Apple Pay is the second most popular digital payment system, beaten only by Visa.

The top-ranking Visa processes approximately $10 trillion worth of transactions per year, with Apple Pay on over $6 trillion.

This is how innovation overtakes traditional companies and their role in the transactional world. I wonder what will this means for the future of money transfer?

Will Apply or other IT company introduce a new technology which would make MasterCard and Visa obsolete?

Labels:

Comments

Post a Comment

Popular posts from this blog

The messy meeting

When you know there will be a messy meeting and there is nothing you can do about it, the best thing to do is to avoid it. Messy people produce messy meetings, and they take the time and the energy of everyone who is part of it. That is why instead of being part of this drama, find a better team and better meetings to invest your precious energy.
Post a Comment
Read more

New year preparations

 I stopped preparing for things since August this year. I decided to go with the flow. With no plans for the New Year, today I received an invitation to a party. Seems like not having any plan was the best plan in the end.
Post a Comment
Read more

The recovery day

 What to do once all the presents are opened? Should we just move forward with our goals? As I wrote about recovery day after flying long distance. It is important to plan a recovery day after the holidays. This is your guilty free time.
Post a Comment
Read more