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Apple Pay faces numerous challenges on its path to becoming the world’s leading payment choice

Apple’s mobile payment service, Apple Pay, is currently the fifth most-used payment method in North America and globally. However, Apple is determined to increase its usage and has launched a new promotional campaign for the feature. According to data from the U.K.’s Merchant Machine, Visa holds the top spot in North America with a 15.08% market share, followed by MasterCard (10.98%), PayPal (10.70%), American Express (9.97%), and Apple Pay (9.22%). Globally, PayPal is in the lead with a 20.53% market share, followed by Visa (15.67%) and MasterCard (10.49%). Apple Pay ranks fifth with a 7.37% market share. Other tech-related firms such as Amazon Payments (6th place, 6.04% share) and Google Pay (8th place, 4.30% share) also make an appearance in the global rankings. In Africa, Apple Pay holds the third position with a 9.49% market share, while PayPal (25.06%) ranks first and Visa (17.14%) ranks second. Apple Pay also ranks fourth in Asia with a 7.65% transaction share on the continent. Apple hopes to boost the usage of Apple Pay with its new tagline, “Pay the Apple way,” and promotion on various social media platforms and online sites. Mobile payment services like Apple Pay offer convenience as they allow users to easily make payments using their phones or smartwatches instead of relying on credit cards.

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