The tendency of people to pay for goods and services on the Internet is stronger than ever. Order food, pay bills, rent objects, many of these things we do online. And for that, payment systems have come out to satisfy these needs. Two of them compete today for being the best: Apple Pay and PayPal. What’s it about? Today you’ll know.

Apple Pay vs PayPal: Two different payment systems

At first, we had said that payment systems were a trend. To a large extent, the world is used to pay for all kinds of things with them. It’s strange to find a service, business or modern product that doesn’t allow payments through these platforms. Currently, there are several payment systems: Square Cash, Venmo, Zelle, Stripe, Google Wallet… All of them known and used openly.

On the Internet, it’s possible to find many articles, reviews and videos where these platforms are compared. Clearly in order to find out which of them is better. Which one has greater benefits in contrast to the rest. But there are two of them that have always been referenced on the others. In one side, we have PayPal. And on the other, there’s Apple Pay. Both platforms have customers and their own functions.

apple pay paypal competition
The contest between Apple Pay and PayPal is in effect from as far back as 2014. Moment when Apple Pay was about to be launched and PayPal close to being separated from eBay. Source: ABC News

Let’s start with PayPal, founded in 1998, it came to pass to eBay’s hands from 2002. It’s probably the most famous of the bunch. It has evolved and changed for more than a decade. Apple Pay, meanwhile, was launched for the first time in 2014 in the United States. Created by Apple, it allows its users to pay with a single touch. Through technology called Near field communication (NFC).

We then have two applications designed to fulfill the same function. But in a different way. Now, it’s worth asking, which of the two leads? Doing this analysis requires reviewing issues that go beyond the obvious. Because it’s not about the vast experience of PayPal shining more than the qualities of Apple Pay.

Comparing both payment services

According to the Similar Tech website, PayPal has better usage coverage in categories of websites. Ergo, it’s used in business and industry websites, art and entertainment, people and society, plus other 240 categories. However, it claims that Apple Pay surpasses PayPal in the banking category. With 514 websites using it compared to 355 towards PayPal.

Something in which PayPal definitely outperforms Apple Pay, is being at the forefront. This payment system is a leader in the United States, Germany, France and in 228 other countries. While its rival is available, for now, in only 20 countries. It’s clear who’s ahead in terms of brand construction and consolidation.

paypal usage worldwide
According to a survey conducted in 26 countries by the International Post Corporation in October 2016, 41% of the population of these countries preferred to make digital payments with PayPal or a similar platform. Source: Pinterest

However, Apple Pay has an ace up its sleeve. Its technology allows it to carry out what’s known as contactless payment. Through NFC technology, the one we mentioned earlier. Known to be extremely fast and to accelerate the purchasing process in a big way. And yes, PayPal has its own NFC technology. Nevertheless…

In favor of Apple Pay, many argue that it’s very easy to use. That as a method of payment, it’s quite practical, safe and private. According to a review by Mac Rumors, Apple believes that the acceptance will take time but will be done eventually. Although it doesn’t cover most retail stores and doesn’t have many users, it must be recognized that Apple Pay has potential.

At the moment it’s uncertain that Apple Pay will surpass PayPal. The biggest disadvantage of Apple Pay is that very few people are used to paying without contact. And that, as we said before, doesn’t have the acceptance of large retail stores like Walmart. PayPal seems to be carefree, but it’s a matter of time to see if people accept their rival more.

Thank you for reading this entry, we hope you liked it! We invite you to share it with your friends in social networks, we would appreciate it very much!

Related:  Why Do Some Countries Reject Sharing Economy?

And you, would you prefer PayPal or Apple Pay?