Deutsche Bank analyst Bryan Keane says Salesforce’s new data shows Apple Pay (AAPL) growing at an "extremely rapid pace," up 52% year-over-year month-to-date in November globally and 59% year-over-year in the U.S. while, over the same period, PayPal (PYPL) adoption has fallen 8% globally and 4% in the U.S. Despite the divergence in growth rates, PayPal remains a much larger payment type making up 16% of global e-commerce purchases verses Apple Pay’s 5%, Keane tells investors in a research note. The analyst adds that Salesforce is only one reference point and that he will continue to monitor since many data sources can vary." He continues to expect that PayPal will face the steepest competition in the coming months and years from Apple Pay, "a belief that has only been strengthened after our review of Salesforce’s holiday spending data."
Published first on TheFly
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