• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
TechApple

Apple Pay Volume Up 500% In Latest Quarter

By
Leena Rao
Leena Rao
Down Arrow Button Icon
By
Leena Rao
Leena Rao
Down Arrow Button Icon
October 25, 2016, 6:30 PM ET
Photographed by Getty Images

Apple’s mobile payments wallet, Apple Pay, had a record quarter, said CEO Tim Cook on the company’s fourth quarter earnings call on Tuesday afternoon. Users of the mobile payments service completed more transactions in the month of September than the entire year of 2015, he added. Transaction volume was up 500% in the fourth quarter, compared to the same quarter in 2015.

The Apple Pay’s growth is likely the result of the service’s international expansion over the past six months. During the quarter, Apple Pay was available in the United States, the United Kingdom, Switzerland, Canada, Australia, China, France, Hong Kong, and Singapore, with many of those launches taking place in 2016. In the past month, Apple also brought the payments service to Japan and Russia. Cook added on the call that Apple Pay will soon expand to Spain.

In the fall, Apple also expanded the payment service to the web, allowing customers on mobile phones and desktop computers using Apple’s Safari web browser. According to Cook, hundreds of thousands of websites are using Apple Pay for the web. Consumers can also use Apple Pay for goods and services purchased within mobile apps like Uber or Starbucks.

Get Data Sheet, Fortune’s technology newsletter.

Noticeably missing from Cook’s call was the number of Apple Pay users, revenue from Apple Pay, or what dollar amount the transaction volume grew to over that quarter. Apple hasn’t revealed exact volume or usage numbers in the past two years, but it has said the service adds one million new users each week. Without a baseline usage number or an amount of transactions, it’s impossible know whether the record volume is significant.

Apple Pay was launched in 2014 as a way to let shoppers load their credit card and debit card information onto iPhones’ “mobile wallets.” Customers can then use either their iPhone (or linked Apple Watch) to pay at retail stores equipped with point-of-sale registers supporting near-field communication (NFC) technology, which enables frictionless payments between smartphones and registers. Apple Pay users simply place their phones or watches near the registers’ sensors for payments to be made without swiping a card.

Cook said earlier in the year that according to retailers, Apple Pay now represents 75% of all contactless payments made in the U.S. Apple also faces competition both in the U.S. and internationally from Google’s rival service Android Pay and Samsung Pay.

 

About the Author
By Leena Rao
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Startups & VentureDefense
Defense startup Shield AI is projecting more than $540 million in revenue this year as valuation more than doubles to $12.7 billion
By Jessica MathewsMarch 26, 2026
3 hours ago
AIAnthropic
U.S. judge blocks Pentagon’s ‘Orwellian notion’ to label Anthropic a supply chain risk and ban Claude from the government
By The Associated PressMarch 26, 2026
3 hours ago
AIData centers
Southeast Asia could become a booming AI market if its data centers can beat the heat
By Angelica AngMarch 26, 2026
7 hours ago
New Disney CEO Josh D'Amaro pictured
Arts & EntertainmentDisney
Disney CEO’s no good, very bad week: Josh D’Amaro is dealing with 3 major headaches
By Tristan BoveMarch 26, 2026
8 hours ago
startup team smiles in front of camera
CryptoCryptocurrency
Exclusive: Megapot raises $5 million to create a crypto-powered global lottery
By Carlos GarciaMarch 26, 2026
11 hours ago
Water storage construction on the Meta data center site in Holly Ridge, Richland Parish, Louisiana.
AIEye on AI
Inside Meta’s chaotic AI boomtown in rural Louisiana
By Sharon GoldmanMarch 26, 2026
11 hours ago

Most Popular

C-Suite
'I didn’t want anybody shooting me': Five Guys CEO gave away $1.5 million bonus to employees over botched BOGO burger birthday celebration
By Fortune EditorsMarch 25, 2026
1 day ago
Environment
Vail Resorts CEO says it’s time to think beyond the $1,000 ski pass that helped build the empire
By Fortune EditorsMarch 26, 2026
21 hours ago
Success
Palantir’s billionaire CEO says only two kinds of people will succeed in the AI era: trade workers — ‘or you’re neurodivergent’
By Fortune EditorsMarch 24, 2026
3 days ago
Commentary
The Treasury just declared the U.S. insolvent. The media missed it
By Fortune EditorsMarch 23, 2026
4 days ago
Success
JPMorgan’s Jamie Dimon says remote work breeds ‘rope-a-dope politics’ and stunts young workers’ growth
By Fortune EditorsMarch 25, 2026
2 days ago
Personal Finance
Current price of gold as of March 25, 2026
By Fortune EditorsMarch 25, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.