Unlocking a trillion-dollar opportunity
Digital wallets now account for more than a third of global consumer spending and are on course to reach roughly a $28 trillion value by 2030. Even now, Apple already handles 9.5 trillion transactions for more than 800 million customers, generating an estimated $2.7 billion in 2024, according to Capital One Shopping Research, which also claims an astonishing 5% of all global transactions used Apple Pay in 2020.
India’s economy is growing, as is its payments market. Digital transactions in India are expected to reach around $10 trillion this year, while the value of the broader fintech market should reach $421 billion by 2028. India’s digital payments market was worth about $6.83 billion in 2025 and is expected to exceed $33 billion by 2034.
Those big numbers mean Apple wants to play in that space. When it does, it will be able to build on the customer loyalty its hardware products nearly always generate, and pop some more dollars into its coffers. The market is ripe for such a move, given Apple’s record sales of iPhones and other hardware products there. iPhone now accounts for 10% of India’s smartphone market , and rules the high-end, according to IDC.
