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It is not fortuitous that owners of an iPhone are under the insistence of Apple to add payment methods to their accounts. The notification that usually appears constantly in the mobile responds to a strategy of American technology to dominate the global market for online payments.
Online payments are already a $ 49 billion industry, but projections for 2022 put it in $ 3.4 billion (2.9 trillion euros, what Americans know as "trillions" "). Between August 2017 and February this year, Apple Pay has grown from 87 million users to 127 million.
Apple's online payment service is far from dominating the global market, but the company has a plan to compete with the 1 billion users who register Chinese services combined Wechat Pay and Alipay, the electronic payment system of the Asian giant Alibaba.
Apple's tactics to win payments online
The insistence of Apple to send notifications iPhone owners who suggest that they start using Apple Pay is not the only tactic of the company to dominate the market, even if it worked. The growth of its user base has increased when notifications have exploded.
But Apple's plan goes beyond the harbadment of its customers. Slate reports that the technology has been working to improve Apple Pay's compatibility with local financial institutions and credit cards offered around the world. In Spain, recently, Bankia and Sabadell joined Apple Pay
Apple must fight against Paypal, the second largest competitor in the online payments market
Currently, it is compatible with about 2700 financial institutions, thanks in much to its strategy of expansion as a country can. Recently, the service has arrived in Norway and Poland, for example, and the list continues to grow.
In December, the company launched Apple Pay Cash, an online transfer service between users installed directly in the application operating system messages. iOS C is a threat to businesses with Venmo, specializing in direct transfers.
Competition in the online payment market is aggressive and diverse. Apple Pay is fighting against Paypal, the second most popular service after the Chinese, but also against Samsung Pay, Google Pay, Square, Zelle and Chase Pay, among others, besides Facebook and WhatsApp also allow payments.
2017: 90% of purchases in the United States with technology that allows online payments were made with Apple Pay
Although Apple Pay is the leader in online payments in the United States ( 90% of purchases with this technology) in 2017), the company has a big gap to reduce. In addition, it is estimated that only 16% of the estimated 800 million iPhone owners use their online payment system.
But, as Slate reminds us, "Apple has managed to turn smartphones into an indelible part of our daily lives. he is also able to do this for online payments. "
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