Only 16% of Global iPhone Users Have Turned on Apple Pay [Report]

Only 16% of Global iPhone Users Have Turned on Apple Pay [Report]

Posted by · 6385 views · Translate
A new report from Loup Ventures estimates that only 16% of global iPhone users have turned on Apple Pay. That leaves Apple with plenty of room to grow the service over the next 3-5 years.

Active users have doubled in the past year, transactions have tripled and online merchant adoption has increased by about 50%, according to Loup.

Here's some highlights from the report:
● We checked the Top 100 retailers in the U.S. for Apple Pay compatibility for online (desktop, mobile and apps) and found the growth of adoption has been high (9 to 85%), but off of a small base.
● The total number of these retailers supporting Apple Pay online now ranges between 14-24% (details in table below).
● The number of banks globally that support Apple Pay increased in the past year by 41% to 2707 banks.
● We believe there are 127m global active Apple Pay users, up from 62m a year ago. This represents 16% of the active iPhone base.
● We don’t have any data on Apple Pay peer-to-peer (Venmo competitor), which launched in December of 2017.

Only 16% of Global iPhone Users Have Turned on Apple Pay [Report]

Loup also shared some of Apple's statements on Apple Pay over the past year:
● Adoption and usage in international markets has been much more robust than in the U.S. (February 2018, shareholder meeting).
● User adoption has also been slower than what had been expected at Apple Pay’s launch (February 2018, shareholder meeting).
● More than half of all U.S. retail locations accept Apple Pay (February 2018 earnings call).
● Transactions more than tripled y/y (February 2018), they were up 330% (October 2017), up 450%, (May 2017), and up over 500% y/y (January 2017).
● Active users more than doubled (October 2017 earnings call).
● Nearly 90% of NFC payment transactions globally are with Apple Pay (August 2017 earnings call).
● 3 out of 4 of Apple Pay transactions happen outside the U.S. (August 2017 earnings call).

You can read the full report at the link below!

Read More

Only 16% of Global iPhone Users Have Turned on Apple Pay [Report]
Alvina - February 23, 2018 at 12:33pm
Apple initially appeared Apple Pay in the fall of 2014, and albeit numerous retailers participated in help of the stage it has confronted push once more from organizations like Target and Coursework Writing Services UK Walmart as each attempt to build up their own particular advanced wallet benefit. The previous spring, Apple said it wasn't concerned in regards to the moderate selection of Apple Pay since it saw the portable wallet as on track to soon turn into its clients' "essential installment framework."
D4xM4Nx - February 23, 2018 at 10:58am
I'm surprised that the U.S. is lagging so much when it comes to card less payments or overall banking... We may never see Apple Pay here, I can only remember two, maybe three establishments offering something similar to Apple Pay. No way in hell NFC tech is widespread, let alone even available as a standard for daily usage. I've had problems purchasing stuff online or paying for services, apps have lots of issues handling CCs or simply lack the tools.
chirod76 - February 22, 2018 at 11:18pm
For such a developed country US has long ways to go when it comes to banking.. I travel often to Europe and my recent trip(2 weeks ago) I didn't have to get my card out of the wallet once, they use a tap (RFID) on their debit/credit card so ApplePay is basically accepted. US they are still trying to understand if they should swipe or stick in the card lol
Captain Japan - February 22, 2018 at 5:27pm
I’d love to use it, but I don’t want to deal with two-factor authentication.
John Simmons - February 22, 2018 at 4:43pm
I use an iphone 8 and Galaxy s8 (office and personal phones). I have used Apple pay and Samsung Pay. Samsung pay wins hands down. Its easier to pull up, can be literally used anywhere(even old terminals), its rewarding t use it. And also have a gear s3 which works everywhere - even if the merchant has blocked NFC payments. Apple Pay has a long way to go.
4 More Comments