Apple Pay has been growing at a brisk pace recently, and Tim Cook is making a point to emphasize that fact. During Apple’s Q4 2019 earnings call today, Cook touted that revenue and transactions for Apple Pay doubled year-over-year as the service continues to outpace PayPal.
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During Apple’s Q3 2019 earnings call earlier this year, Cook pointed out that Apple Pay was growing faster than PayPal. This time around, Cook continued that comparison – but with some more data.
In total, Cook says that there were 3 billion Apple Pay transactions during Q4 2019. Apple Pay transactions and revenue both doubled year-over-year, Cook added.
What about PayPal? In comparison to PayPal, Cook says that Apple Pay exceeded PayPal transaction volume and is growing 4 times as fast.
All in all, Apple’s Q4 2019 represented an “all-time record revenues from payment services.” Here are Cook’s full remarks about Apple Pay:
We had all-time record revenues from payment services. Apple Pay revenue and transactions more than doubled year-over-year, with over 3 billions transactions in the September quarter; exceeding PayPal’s number of transactions and growing 4x as fast. Apple Pay is now live in 49 markets around the world, with over 6,000 issuers on the platform.
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