Tim Cook confirms that Apple Pay would have exceeded PayPal's transaction volume

Apple Pay has been one of the main topics of discussion during the shareholders meeting of Apple's third economic quarter. A service that would be eating up the ground fast to PayPal, one of the best known digital payment services in the world. And it eats them ground in number of users and transactions. After the jump we tell you more about this war for the hegemony of digital economic transactions.

As we told you, Tim Cook wanted to compare Apple Pay with PayPal, and yes there are similarities but they are services with different points. Apple Pay has achieved a greater number of transactions than PayPal (they have achieved 1 billion transactions per month with the presence in 47 markets), but the truth is that PayPal does not aspire to be that digital "wallet" of our day to day, is more focused on transactions via the internet. Apple Pay too, but from my point of view one thing has nothing to do with the other.

Based on June quarter performance, Apple Pay is now adding more new users than PayPal, and monthly transaction volume is growing four times faster.

Tim Cook also wanted to clarify the rapid growth of Apple Pay in transportation systems around the world. The service is now on the transportation system of Portland, and Cook has reiterated that Apple is beginning to roll out for the transportation system of New York.

In the United States, in addition to the successful integration into the Portland transportation system in May, we began the New York City transportation rollout and will launch in Chicago later this year. In China, Apple Pay launched the payment card for Didi, the world's largest passenger transportation provider.

As I've said before, transportation integration is a major driver of broader digital wallet adoption, and we're going to maintain this momentum to help users leave their wallet at home in more situations.

We will see the reception of the new Apple Card, will be launched during the month of August and will undoubtedly be a great first for Apple Pay. That, together with the growth within transportation systems, leads us to a question: who wants to continue to have physical cards?