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Apple Pay Processes $6 Trillion Annually, Edges out Mastercard

Apple Insider

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New research claims that Apple Pay has surpassed Mastercard in the dollar value of transactions annually, with its $6 trillion total meaning it’s over halfway to equaling Visa.

Since its launch in 2013, Apple Pay has seen rising adoption by users, banks, and retailers, until in 2021 it accounted for 92% of all mobile wallet debit transactions.

Now, according to comparison site TradingPlatforms, Apple Pay is the second most popular digital payment system, beaten only by Visa. The top-ranking Visa processes approximately $10 trillion worth of transactions per year, with Apple Pay on over $6 trillion.