Apple Card Usage
Apple card usage continues to grow rapidly since its inception.
What we’re seeing: The Apple Card is a relatively new credit card offered by Apple Inc. and issued by Goldman Sachs. In its first full calendar year of being on the market, 2020, the number of payment transactions by account holders made to Apple Card grew by 108 percent. Number of payments grew further by 69 percent and 60 percent in the 2021 and 2022 calendar years, respectively. In total, over the three year period of 2020 through 2022, the number of payment transactions grew 460 percent.
Takeaway: New digital card products are making it seamless to make payments. Consider ways to incentivize account holders to tie your financial institution’s debit or credit card to payment apps.
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Source: Alkami Telemetry Data for this figure was sourced from a panel of 13 financial institutions consisting of more than 400,000 account holders and over 200 million transactions.