Max Neo
34 posts
Max Neo
34 posts
Digital Transformation

APPLE PAY: behind the scenes

Back in 2014 Apple ( $NASDAQ:AAPL ) made a bold bet on the mobile #payments market by launching Apple Pay. One that has certainly paid off. Let’s take a look.

Apple Pay is nothing more than a contactless payment method that works with Apple devices. It also works together with Apple Wallet (a digital wallet, i.e. an online version of a physical wallet) in a combination of tremendous potential:

— Nearly two thirds of #digital consumers globally make use of digital wallets for online or offline purchases (Euromonitor). Based on Juniper Research, the number of unique digital wallet users will exceed 4.4 billion globally by 2025

— Mobile payments will account together with A2A payments for around 48% of all electronic transactions by 2026, according to WorldPay

— In 2014 when Apple launched Apple Pay, the size of the global mobile payments market was just $0.5 trillion (Market Research Store). Fast forward to 2021 and the market had grown to $1.97 trillion with projections from Fortune Business Insights bringing the figure to $11.83 trillion in 2028 (annual growth of almost 30%)

To understand the market dynamics, Chinese SuperApps AliPay and WeChat, which are in certain ways an example of what Apple tries to achieve in the west, have today over 1 billion registered users each. Apple has managed within 8 years to exceed half a billion users (we need to take into account that Apple Pay has never managed to take off in China).

The reason why Apple has managed to be so successful is twofold:

— It is the first player that has managed to effectively bring together different stakeholders of the mobile payments’ ecosystem under one roof: credit card schemes, banks and merchants. Today Apple works with all 4 major card players (Visa, Mastercard, Discover, and American Express), has signed partnership deals with more than 5,000 banks globally and has onboarded thousands of retailers across 74 countries. It is indicative that in the US where it is dominant, 92% of all the mobile wallet payments done in 2020 were made via Apple Pay

— Its unique customer base has allowed Apple to build this #business on a global, large-scale base from day one by being able to address a pool of more than 1 billion iPhone active users globally or 1.8 billion active devices

A few days ago, the news that Apple processed $6 trillion annually overpassing Mastercard was all over the internet, creating impressions that are however false. Even if the figure is correct, we have to remember that Apple transactions are at the end of the day Visa, Mastercard, Discover or American Express transactions. Apple Pay is only a bridge and not a new payment scheme.

Going forward digital wallets will not only continue to disrupt the world of payments but will also upend traditional #banking by replacing bank branches with mobile phones. Apple seems to have entered early on a game with huge potential.




Each image shows how company transforming their Business:

🔃 Spotify $NYSE:SPOT




🔃 Microsoft $NASDAQ:MSFT

🔃 Google $NasdaqGS:GOOGL

🔃 Netflix $NASDAQ:NFLX

The most defining cloud battle of the present time is AWS ( $NASDAQ:AMZN ) vs Azure ( $NASDAQ:MSFT ) vs Google ($NasdaqGS:GOOGL ). Choose one public cloud from three is considered a challenging task. Let make it easy to compare each of them


Metaverse Timeline

Although below infographic shows history of Metaverse , real immersive adoption is yet to be come.

3 Technologies that will shape the future of the metaverse – and the human experience , which could include virtual reality (VR), augmented reality (AR), and brain-computer interfaces (BCI)

You've probably heard the hype: the metaverse is going to change the way you live.

However, a lot has happened in these 30 years, from Philip Rosedale's 'Second Life' online virtual world in 2003 to Mark Zuckerberg's 2021 announcement $NASDAQ:META metaverse plan.

Major technology companies including Apple ( $NASDAQ:AAPL ) , Google ( $NasdaqGS:GOOGL ) , Meta ( $NASDAQ:META ), Microsoft ( $NASDAQ:MSFT ), Niantic, and Valve are developing the tech that will shape the future of the metaverse.

2 years of a pandemic have prompted us to redefine "virtual." No one's perfected what the future will look like yet. But a rethinking of what it means to gather virtually and at scale is underway. And lots of people want to define it.

For sure businesses will soon need professionals whose job is to create a presence and potentially build with Web3 technologies and concepts in the metaverse — and there's plenty that businesses can do now to prepare for that.

#Metaverse #MetaVI @metaverse @metaverse中文 $NYSE:RBLX



Apple ($NASDAQ:AAPL ) Services revenue was $19.2 billion last quarter Revenue Q3 2022.

It was more than:

🔴 Netflix $NASDAQ:NFLX

🟠 Mastercard $NYSE:MA

🟢 Spotify $NYSE:SPOT

🟣 HBO Max & Discovery

Top Blockchain Technologies Used by the Top 100 Institutions (OCTOBER 2022)

These 100+ companies are exploring decentralisation and Web3 applications is one of many proofs that this technology and architectural approach has a bright future.

#Metaverse #MetaVI #web3 @metaverse @metaverse中文


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