CUPERTINO, Calif.—Apple Pay now accounts for 5% of all global credit card purchase volume, according to financial research firm Bernstein.
The World Payments Report says that global non-cash transaction volumes hit $539 billion in 2017, and were growing at 12% annually.
“And that means Apple can collect a lot of money along the way…Every time you use (Apple Pay), Apple gets a .15% cut of that payment,” Forbes said.
According to one estimate by 9to5Mac, if just 5% of transactions happen via Apple Pay, Apple would make $525 million just in the United States at 2018 transaction volumes. At 10%, that's more than a billion dollars, Forbes said.