Apple Pay has outpaced PayPal in terms of growth – Tim Cook

Apple Pay has outpaced PayPal in terms of growth – Tim Cook

The number of payments users make using their Apple Pay mobile wallet is growing. So, in the third quarter of 2019, the number of transactions grew to 3 billion, doubled last year.

Moreover, Apple CEO Tim Cook claims Apple Pay is growing four times faster than PayPal. So, in the report of PayPal for the third quarter of 2019 it is said that the number of transactions has increased by 25% (up to 3.1 billion). Whereas the result of Apple grew by 100%.

The head of the company also reported on the record revenues that Apple receives from its payment business. Noting that they have doubled compared to last year.

Recall that Apple Pay currently operates in 49 markets around the world, working with 6000+ banks.

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