Apple Pay hit billion-transaction milestone

Apple CEO Tim Cook talked up the company's mobile payment service in an earnings call Tuesday, touting1 billion Apple Pay transactions in the company's fiscal third quarter, which ended June 30.

That figure is triple the amount recorded in March 2017, according to Cook. He added that Apple Pay transactions exceeded  Square transactions for the quarter and also beat out mobile transactions made through PayPal. 

In related news, Apple announced that Apple Pay Apple Pay will debut in Germany later this year. In the U.S., Apple Pay acceptance is coming this fall to CVS and 7-Eleven.

CVS famously dissed Apple Pay when it was launched in 2014; at the time the chain was a member of the now-defunct Merchant Customer Exchange, a payments industry collaborative formed in 2012 to develop its own mobile wallet. The project was shut down four years later.

In other news, as of today, Apple has become the first American company in history to exceed $1 trillion in value.

Topics: Consumer Behavior, Payments, POS

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