Apple Pay Processing 5x More Transactions Than Last Year

At the second quarter earnings call, Apple’s CEO Tim Cook talked about Apple Payand mentioned that it is growing at a “tremendous rate”. The CEO said that compared to last year, Apple Pay is now processing 5x more transactions and the service is gaining 1 million new users every week.

Apple has been aggressively rolling out its mobile payment service to retailers, banks and various regions across the world since it first launched the service in October 2014. In recent times, the Cupertino company rolled out Apple Pay to Singapore and China, while in the last quarter of 2015, it launched the service in Australia and Canada. Apple Pay is also available in the United States and United Kingdom. Apple is also rumored to expand Apple Pay to Spain, Hong Kong, France and Brazil sometime this year.

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