Across the Atlantic, according to Bain, Apple Pay is leading mobile payment systems … but only 9% of US consumers use it. PayPal is far ahead because the online service, whose benefits go beyond mobile payment, are used by 44% of consumers. Apple has had the good luck to point out that its service recruited more new users than PayPal, but it is not enough to give it a shadow.
Traditional payment systems are largely in the lead: the credit card has an adoption rate of 80%, cash 79%, debit card 59%, and the good old check 53%. Given these numbers and the massive use of the credit card, it is not surprising to see Apple launch into the niche.
But the Apple Card is not just a card; it is also and above all a vehicle for Apple Pay. The Apple does everything for: while the Daily Cash is 2% with Apple Pay, it is limited to 1% when buying with the physical card. The titanium card is finally an elegant (and fragile) step to push the adoption of Apple Pay.