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Apple Pay is already crushing all competitors in the contactless payment space

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Back in October, Apple CEO Tim Cook said that the newly launched Apple Pay was already the leader in the contactless payments, with it already been used more than the total of all other competitors combined. Now, we're getting more data around that point — according to The Wall Street Journal, Apple Pay accounts for two out of every three dollars spent in contactless payments, but there's a slight caveat there. That only accounts for payments made using Visa, MasterCard, and American Express. Still, those are three of the most dominant financiers out there, leaving little doubt that Apple Pay has found a strong foothold in the marketplace.

This news comes as part of Apple's Q1 2015 financial earnings, a quarter in which the company posted record revenue and frankly insane iPhone sales of 74.5 million in a single quarter.

Later in the call, Cook reiterated his bullishness for Apple Pay. "I'm actually unbelievably shocked, positively shocked at how many merchants were able to implement Apple Pay in the middle of their holiday season," he noted when asked about whether the launch met his expectations. Cook did go on to say that he feels Apple is still in the "first inning" of Apple Pay's rollout, so it's hard to really say how things will look going forward. Cook and Apple are confident, though: "I think that this is the year of Apple Pay," he said.