Apple Pay
Apple Pay is Apple's mobile payment and digital wallet service, launched in 2014, that enables contactless in-store, in-app, and web payments via NFC, tokenization, and biometric authentication, serving 500+ million active users across 70+ countries and anchoring Apple Card, Apple Cash, and Apple Pay Later.
- Company typePublic
- Founded2014
- HeadquartersCupertino, United States
- Headcount5,001–10,000
- GTM typeB2C
- OfferingSoftware
What Apple Pay does
Apple Pay is Apple's mobile payment and digital wallet service, launched in October 2014, that enables consumers to make contactless payments in stores, in iOS apps, and on the web using NFC technology combined with tokenization (replacement of card numbers with device-specific tokens) and biometric authentication via Face ID or Touch ID, with payment credentials stored in the Secure Enclave of Apple hardware. The service is pre-installed on every compatible iPhone, Apple Watch, iPad, and Mac, giving it distribution into Apple's installed base of hundreds of millions of devices without acquisition cost. Beyond the core wallet, Apple Pay anchors a broader Apple financial services stack that includes Apple Card (a credit card issued through Goldman Sachs with up to 3% Daily Cash), Apple Cash (peer-to-peer transfers via Messages), Apple Pay Later (a buy-now-pay-later feature that captured roughly 5% of the US BNPL market in its first year), and Tap to Pay on iPhone (a feature enabling merchants to accept contactless payments using only an iPhone, rolled out through partners Adyen, Revolut, Stripe, and SumUp). The Wallet app serves as the central hub for all of these products plus transit passes, event tickets, and digital credentials.
Apple Pay operates in more than 70 countries, with 500+ million active users globally as of 2025, and processed an estimated $10 trillion in transactions annually (up from $6 trillion in 2023). The platform holds approximately 45% of the US mobile payment market and an estimated 92% share of US mobile wallet transactions in 2025. Revenue is generated primarily through transaction fees paid by issuing banks — approximately 0.15% on credit card transactions and $0.02 on debit in the US — supplemented by interest income on Apple Card balances, and fees from Apple Pay Later. Consumers do not pay to use Apple Pay. Apple Pay does not separately disclose its financial results; revenue is reported within Apple Inc.'s Services segment.
The go-to-market combines product-led growth via Apple's hardware ecosystem with channel partnerships across two distinct layers: (i) bank and card issuer partnerships that bring cards onto Apple Pay (current and upcoming partners include ICICI Bank, HDFC Bank, and Axis Bank in India; Bank of the Philippine Islands; GoTyme Bank in South Africa; and the Egyptian bank consortium that launched Apple Pay in Egypt), and (ii) payment platform integrations (Adyen, Revolut, Stripe, SumUp, and Fiuu) that enable Tap to Pay on iPhone for merchants. Merchant expansion is complemented by consumer engagement through Apple's own product pages, keynotes, and seasonal campaigns such as the 2023 'Can I... with Apple Pay?' campaign. The service is PCI DSS-oriented in its security architecture, and complies with regional payment regulations (e.g., the Bangko Sentral ng Pilipinas classified Apple Pay as a technology service provider rather than a payments operator).
Apple Pay firmographics
Firmographics- Name
- Apple Pay
- Legal name
- Apple Inc.
- Website
- https://apple.com
- Company type
- Public
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Apple Pay is Apple's mobile payment and digital wallet service, launched in 2014, that enables contactless in-store, in-app, and web payments via NFC, tokenization, and biometric authentication, serving 500+ million active users across 70+ countries and anchoring Apple Card, Apple Cash, and Apple Pay Later.
- Ownership category
- akta.pro rank
Apple Pay industry classification
Industry- Product category
- Mobile Payments
- NAICS
- Credit Card Issuing (522210)
- akta.pro primary industry
- In-Store Contactless & NFC Acceptance (Tap-to-Pay, EMV Contactless) (FSAMADAF)
- akta.pro secondary industries
- Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Payment PIN Pads, Card Readers & NFC Contactless Devices (HDACAKAG)
Keywords
Where Apple Pay is headquartered
LocationHeadquarters
- HQ city
- Cupertino
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Apple Pay business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Infrastructure, Personnel, Marketing or Sales, Operations
Revenue model
- Transaction Fees: Apple earns a percentage from each transaction processed through Apple Pay, approximately 0.15% for credit cards and $0.02 for debit cards, charged to card issuers.
- Apple Card Interest Income: Apple Card generates interest income on outstanding balances, with Goldman Sachs as the issuing bank. Apple Payments Services LLC is the service provider.
- Apple Pay Later: BNPL feature that allows users to split purchases into installments, generating revenue through interest and fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | No consumer fees for Apple Pay usage |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Apple Pay product offering
Product offeringCore offering
Apple Pay is Apple's mobile payment and digital wallet service that enables contactless in-store payments, in-app and web checkouts, peer-to-peer money transfers, transit payments, and merchant acceptance via Tap to Pay on iPhone. It operates across iPhone, Apple Watch, iPad, and Mac using NFC, tokenization, and biometric authentication, and is integrated with related financial products including Apple Card and Apple Cash.
Product overview
Apple Pay is Apple's digital payment platform that serves as the core product within a broader financial services ecosystem comprising Apple Card (credit card issued with Goldman Sachs), Apple Cash (peer-to-peer payment service), and Apple Pay Later (buy-now-pay-later feature). These products are managed through the Wallet app, which serves as the central hub for storing payment credentials, transit cards, event tickets, and digital credentials. Apple Pay operates in over 70 countries with more than 500 million active users, processing over $6 trillion in transactions. The platform uses NFC technology for contactless in-store payments, tokenization for security, and biometric authentication (Face ID/Touch ID) for transaction verification.
Differentiator
Problem solved
Functional benefit
Brands
- Apple Cash: Peer-to-peer payment service integrated with Apple Pay for sending and receiving money
- Apple Card
- Tap to Pay on iPhone
Products and services
- Apple Pay Apple's digital wallet and mobile payment service that enables consumers to make contactless payments in stores, in iOS apps, and on the web using NFC technology with tokenization and biometric authentication.
- Apple Card Credit card issued by Goldman Sachs in partnership with Apple, integrated into Apple Pay and the Wallet app, offering up to 3% Daily Cash back on purchases with no fees.
- Apple Cash Peer-to-peer payment service that enables users to send and receive money through Messages, functioning as a virtual card within Apple Wallet for in-store and online payments.
- Tap to Pay on iPhone Merchant-facing solution that lets businesses accept contactless payments, including Apple Pay and other digital wallets, using only a compatible iPhone with no additional POS hardware, delivered through payment platform partners.
Quantifiable outcome
- Processed over $6 trillion in transactions in 2023
- +3 more outcomes
Companies that use Apple Pay
Customer profileNamed customers9 records
Segments3 records
Ideal customer profiles3 records
Apple Pay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
AI capability3 records
Feature3 records
Apple Pay partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core.
- ICICI BankcoreApple Pay is in discussions with ICICI Bank to support Apple Pay in India, integrating with both UPI and card payment systems.
- HDFC BankcoreHDFC Bank is in discussions with Apple Pay for India market entry, supporting both UPI instant bank transfers and card transactions.
- Axis BankcoreAxis Bank is in discussions with Apple Pay for India market entry, with potential launch around mid-2026.
- GoTyme BankcoreGoTyme Bank in South Africa confirmed Apple Pay will be available to customers within weeks, completing its digital wallet offering for iOS users alongside Samsung Pay, Google Wallet, and Garmin Pay.
- KlarnacoreKlarna expanded its partnership with Apple Pay to France and Italy, adding these markets to existing presence in Denmark, Spain, Sweden, U.S., U.K., and Canada. Consumers can access Klarna's pay-later products through Apple Pay at checkout.
- Bank of the Philippine Islands (BPI)coreBPI plans to support Apple Pay by 2026 following regulatory approval and ongoing discussions with Apple, bringing mobile payments to Philippine iPhone users.
- AdyencoreAdyen is a key payment platform partner for Apple's Tap to Pay on iPhone feature, enabling merchants using Adyen's payment infrastructure to accept contactless payments through iPhones without additional hardware.
- RevolutcoreRevolut partnered with Apple to support Tap to Pay on iPhone, expanding the feature's availability across Revolut's merchant base in multiple European countries.
- StripecoreStripe is a payment platform partner for Tap to Pay on iPhone, allowing Stripe merchants to accept Apple Pay and other contactless payments using just their iPhone.
- Egyptian Banks (Initial Partnership)coreApple Pay launched in Egypt in partnership with three local banks, marking expansion into the Middle East and Africa region.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Apple Pay competitors and assessment
Company assessmentDirect peers
- Google Pay (Google Wallet): Google's mobile wallet and contactless payment service, the closest direct competitor to Apple Pay across Android devices and the web. It uses similar NFC and tokenization technology and competes head-to-head for merchant acceptance and consumer wallet share.
- Samsung Pay: Samsung's mobile wallet pre-installed on Galaxy devices, supporting NFC and MST-based contactless payments. It is a direct hardware-ecosystem counterpart to Apple Pay, with the same pre-installation distribution advantage on Samsung devices.
- Block (Cash App): Block operates Cash App, a mobile-first P2P and consumer payment app that competes directly with Apple Cash and Apple Pay in the consumer wallet and P2P space, and Square for merchant-side acceptance that overlaps with Tap to Pay on iPhone.
- Venmo (PayPal): Peer-to-peer mobile payment app and the primary US competitor to Apple Cash. Venmo has established scale and a social engagement layer that Apple Cash lacks, and competes for the same iOS user base within the broader US P2P market.
Broad incumbents
- PayPal: One of the largest digital payment platforms globally, offering online checkout, P2P (Venmo), and merchant services. It overlaps with Apple Pay in online checkout, BNPL (Pay in 4), and digital wallet use cases, and is listed alongside Apple Pay as a key player in mobile payments.
- Alipay (Ant Group): China's dominant mobile payment super-app, integrated with hundreds of millions of merchants and consumers. While it does not directly compete in the US, it is a benchmark super-wallet that constrains Apple Pay's expansion in Asia and defines the ceiling for mobile payment engagement.
- WeChat Pay (Tencent): Embedded mobile payment service within the WeChat super-app. Like Alipay, it does not compete directly in Western markets but represents the integrated-wallet model that Apple Pay competes against in Asia and is referenced as a global mobile payments leader.
Others
- Stripe: Global payment processor and a core technology partner for Tap to Pay on iPhone. While not a direct consumer wallet competitor, Stripe is a peer in the broader mobile payments stack and competes with Apple Pay for merchant economics at the point of sale.
- Adyen: Global payment platform and a core Tap to Pay on iPhone partner. Adyen is a peer in the modern payments infrastructure layer and competes with Apple Pay in merchant acceptance, even as it enables Apple Pay acceptance through its platform.
- Klarna: BNPL provider with an expanded integration into Apple Pay checkout across multiple markets including the US, UK, France, Italy, and the Nordics. Klarna is a peer and partner in the consumer credit and installment space adjacent to Apple Pay Later.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Apple Pay social profiles
Digital presenceApple Pay compliance and trust
Trust signalCompliance1 record
Apple Pay financial estimates
Financial estimateRevenue estimate
Valuation estimate
Apple Pay leadership team
Management profileNumber of profiles
Apple Pay funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Apple Pay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Apple Pay
What does Apple Pay do?
Apple Pay is Apple's mobile payment and digital wallet service that enables contactless in-store payments, in-app and web checkouts, peer-to-peer money transfers, transit payments, and merchant acceptance via Tap to Pay on iPhone. It operates across iPhone, Apple Watch, iPad, and Mac using NFC, tokenization, and biometric authentication, and is integrated with related financial products including Apple Card and Apple Cash.
Is Apple Pay a public or private company?
Apple Pay is a public company. It is classified as public and is currently operating.
When was Apple Pay founded?
Apple Pay was founded in 2014. It employs 5,001 to 10,000 people.
Where is Apple Pay based?
Apple Pay is headquartered in Cupertino, United States, in the North America region.
How does Apple Pay make money?
Three revenue lines are on record. Transaction Fees are the primary driver. The others are apple Card Interest Income and apple Pay Later.
Who are Apple Pay's main competitors?
Direct peers on record are Google Pay (Google Wallet), Samsung Pay, Block (Cash App) and Venmo (PayPal). Broad incumbents are PayPal, Alipay (Ant Group) and WeChat Pay (Tencent). Others are Stripe, Adyen and Klarna.
Does Apple Pay have an API?
No public API is recorded for Apple Pay.
What industry is Apple Pay in?
Apple Pay's product category is Mobile Payments. Its primary akta.pro industry code is FSAMADAF, In-Store Contactless & NFC Acceptance (Tap-to-Pay, EMV Contactless), with a secondary code of FSAGALAB, Embedded Payments (Pay-ins, Pay-outs, Wallets). Its NAICS code is 522210.