Payments: Apple Pay should further strengthen its positions

Payment by Apple Pay is attracting more and more people. Even if its penetration of the payments market is still weak in Europe, the trends observed across the Atlantic suggest that its popularity will only grow.

Apple Pay more and more present

According to a Kantar study for Paylib carried out in April 2021, only 12% of adults in France have adopted payment by Apple Pay. Its main competitor, Google Pay, collects just a little more membership (14%). If the French are rather conservative in terms of dematerialized payment, our European neighbors have been more numerous to adopt it. According to the latest Global Payments Report from FIS / Worldpay, wallet payments in Europe represent between 5 and 10% of in-store payments depending on the country, and 20 to 30% of online purchase payments. According to the estimate of the firm Loup Ventures, 507 million people around the world today use Apple Pay (or 1 in 2 iPhone users). For comparison, in 2016 they were only 67 million to use Apple pay. And the trend should increase: according to analysts at the Bernstein firm, by 2025, all countries in the world combined, Apple Pay should serve as an intermediary for 1 in 10 bank card payments.

The United States, the homeland of Apple Pay, is one step ahead of the rest of the world. According to eMarketer’s estimate, Apple Pay was used by 72 million Americans in 2019, then by 92.3 million in 2020, an increase of 29% year on year. And by the end of 2021, the number of Apple Pay users in the United States is expected to reach 100 million, almost half of the adults in the country.

Taxing Apple Pay at all costs, a priority for Apple

In France, of the 2 million payment terminals, 1.5 million are compatible with contactless payment, reports the Groupement Cartes Bancaires. And who says terminals managing contactless payment says terminals compatible with Apple Pay. Knowing that around 10 million French people have an iPhone, that’s as many potential Apple Pay users.

Let there be no doubt: for Apple, Apple Pay is a big deal. According to the estimate of the firm Evercore ISI, in 2024 the fees charged to merchants will bring in $ 6.5 billion to Apple.

However, it is not surprising that Apple is inclined to impose its payment system as the number one payment system. In its guide for developers, Apple writes in black and white: “ If Apple Pay is enabled, assume the person wants to use it. Introduce the Apple Pay button as the first payment option, make it larger compared to other options, or put a line to visually separate it from other possible choices “. Suffice to say that if all developers follow these guidelines, Apple Pay may well quickly put itself in a monopoly position, or almost. A situation which should not fail to interest European anti-trust authorities …