The latest report from Loup Ventures, a market research firm, showed that about 20% of smartphone users around the world use their phones as wallets, but the proportion is expected to rise to 80%.
Loup Ventures analyst Gini
In addition, Munster also estimates that Apple Pay is accelerating its popularity outside the United States
But Monster thinks the Pay is too small to drive Apple's overall services business.
Apple recently increased its marketing support for Apple Pay, including its P2P payment function. Munster believes this trend is expected to continue in the next few quarters.