Yesterday Apple reported stronger than expected quarterly earnings, impressing analysts and investors alike. Then CEO Tim Cook dropped a stat no one anticipated: Apple Pay now represents 75% of contactless payments made in the US, according to retailers.
Cook also noted that half of all money moved via Pay is from non-US markets, suggesting there is reasonable traction in other markets such as Canada, the UK, and Australia.
Apple Pay was launched in 2014. The service turns iPhones into mobile wallets by storing payment card information securely and allowing consumers to tap point-of-sale registers equipped with near-field communication technology.