With its impending arrival on websites, the mobile payment service Apple Pay is set to take market share from established payment giant PayPal, according to Piper Jaffray analyst Gene Munster.
Having spoken with developers and industry partners who indicated that the browser-based Apple Pay will match PayPal checkout in features, Munster has pointed out that 21 of the 100 leading online retailers have declared that they will support this iteration of Apple Pay from launch.
As reported by AppleInsider, Munster further expressed his belief that another 10 of these merchants will be ready shortly after launch. This means that browser-based Apple Pay will be available with 34 of these retailers – already not too far behind the 54 that accept PayPal.
Piper Jaffray estimates that Apple devices are already used for authorization of 30% of PayPal’s transaction volume – and Munster reckons that a “significant portion of PayPal users” will opt for Apple Pay over PayPal where both options are available.
Apple has revealed that, this fall, Apple Pay will be on offer on select websites viewed via the Safari browser on Apple Pay-supporting iPhones and iPads running iOS 10 and – when a paired iPhone or Apple Watch can be used to authenticate – Macs running macOS Sierra.