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.

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Apple Pay

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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