While it's likely to remain a distant second in terms of overall transactions, Apple Pay is poised to narrow the volume gap with rival platform PayPal in next few years, according to Morgan Stanley analysts.
Apple is adding PayPal as an option to fund Apple services accounts in Canada, Germany, Mexico, the Netherlands, and the UK, including purchases from the iTunes Music Store, subscriptions to Apple Music, and buys from the App Stores.
A series of denial of service attacks on a major DNS provider spanning all of Friday have caused major issues across the internet, with outages of some of the largest sites and services experienced across about half of the U.S. — and now the Department of Homeland Security is getting involved.
The mobile payment industry continues to see shakeups this week, as PayPal has announced it will acquire Paydiant, a mobile wallet developer with clients including MCX — the consortium behind retailer-driven Apple Pay competitor CurrentC.
The strong initial success of Apple Pay, combined with the news that eBay will spin off PayPal, has led to expectations that PayPal could be a major acquisition target for mobile companies vying for users' wallets.
Just days after Apple announced the opening of Touch ID APIs to third-party developers with iOS 8, mobile and digital payment services giant PayPal is already said to be working on implementing the feature into its apps.
PayPal said on Friday that it is rolling out a new mobile software development kit that will let Apple iOS device users make in-app purchases via the company's payment service without having to switch apps.