Year-on-year growth of 52%, Apple payment service Apple Pay is eroding PayPal market share

CTOnews.com, November 30 (Xinhua) Deutsche Bank analyst Bryan Keane quoted Salesforce's holiday spending data in a report released on Tuesday as saying that the adoption rate of Apple's payment service Apple Pay grew at a "very rapid rate" this holiday, up 52% from a year earlier.

CTOnews.com has learned that behind the rapid growth of Apple Pay, PayPal, which has long been dominant, has declined. Keane points out that global adoption of PayPal is down 8 per cent year-on-year. Apple Pay and PayPal now account for 5 per cent and 16 per cent of global e-commerce purchases, respectively.

As of 6 p.m. Eastern time, spending on Cyber Monday this year was $6.3 billion, according to Adobe. Adobe thinks Cyber Monday is expected to set a new record this year, reaching $112 to $11.6 billion.

Us retail sales, excluding cars, rose 12 per cent year-on-year on Black Friday, below Mastercard's forecast of 15 per cent growth, according to Mastercard SpendingPulse.