Apple (AAPL) is following in the footsteps of competitors Klarna, PayPal (PYPL) and Afterpay and adding an installment payment feature to its Apple Pay mobile payment service. The company recently announced this at the WWDC developer conference.
True to the motto “Buy now, pay later”, it will be possible to pay for goods step by step in the future. Unlike the competition, Apple will not cooperate with a bank, but will handle everything via the subsidiary Apple Financing LLC. The necessary licenses have already been obtained, the Californian company reported.
In Germany, the use of Apple Pay is hardly widespread. Only about 12% of the users of online payment services surveyed as part of the Statista Global Consumer Survey said they use Apple Pay. According to the survey, PayPal is the clear top dog in Germany with around 93%.
The service from Klarna (49%) is the second most often for online payment transactions. The alternatives from Amazon (25%) and Google (14%) are also mentioned more frequently than those from Apple.
PayPal Continues to Expand Its Crypto Services
For about two years now, PayPal customers have been able to send and receive cryptocurrencies such as Bitcoin, Ethereum and the like. Until now, however, this process was only possible from one PayPal account to another. Recently, PayPal has also introduced the possibility of transferring to external wallets.
This is a significant step because it gives crypto investors the opportunity to manage their cryptocurrencies themselves. Above all, it uses secure hardware wallets such as the Ledger Nano, the Trezor or the BitBox. This step is also very significant overall for the further adaptation of cryptocurrencies. Because, in Germany for example, PayPal is still the No. 1 mobile payment service.
Investing in Digitization and Tokenization
Digitization and tokenization change everything. First and foremost, it secures our money and the way we make payments. It’s a good call to start investing in digitalization stocks and ETFs if you haven’t yet. Look to the areas of gaming, FinTech, artificial intelligence, blockchain, cloud computing, cybersecurity or even the Metaverse.
Same goes for tokenization via attractive cryptocurrencies around Bitcoin, Ethereum, and more. Blockchain technology and tokenization from DeFi, DEXs, NFTs and DAOs to the Internet of Things and the Metaverse enables great future potential for the economy.