During Apple's Q3 earnings call, CEO Tim Cook shared details on the growth of Apple Pay. The contactless payments service has tens of millions of users across the globe, witnessing a 450% growth in monthly active users from the same period in 2015. In the U.S., Apple Pay accounts for 75% of all contactless payments, with over 3 million locations accepting the service.
Cook also talked about the global expansion of Apple Pay, stating that more than half of the transaction volume is now generated from outside the U.S.:
Tens of millions of users around the world are enjoying Apple Pay today in stores and in apps, with estimated monthly active users up more than 450% year-on-year last month.
Leading financial partners tell us that 3 out 4 contactless payments in the US are made with Apple Pay. This is amazing!
There are more than 11 million contactless-ready locations in the countries where Apple Pay is available today, including 3 million locations now accepting Apple Pay in the United States.
With the launch of France, Switzerland, and Hong Kong this month, Apple Pay is live in 9 markets, including 6 of our top 10. Adoption outside the US has been explosive, with over half of transaction volume now coming from non-US markets.
As for the devices powering Apple Pay, Tim Cook announced that 40.4 million iPhones were sold in the latest quarter.
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