Wednesday 26 October 2016 | RSS


    Four in ten Apple Pay users make a mobile payment once a week

    Mobile Payments Is Here

    SURVEY: Monthly Apple Pay use compared with all mobile payments Click to enlarge

    More than seventy million US consumers (71.5m) have now made a mobile payment in a store or online, up from 61m in 2014, research by Mercator Advisory Group has found. Overall, 42% of all smartphone owners have made a mobile payment and half of those do so at least once a week.

    Apple Pay users are significantly heavier adopters of mobile payments than the average, Mercator found, with 80% of Apple Pay users making a mobile payment at least once a week and 19% making a mobile payment ten or more times in the previous month.

    “Smartphone penetration is maturing, gaining broad-based market penetration as most US consumers use their mobile to shop and increasingly buy goods and services in stores and online,” says Karen Augustine, author of Mercator’s Mobile Payments Is Really Here report. “Convenience is driving them to use mobile payments more often at the stores they visit, especially to redeem timely and useful e-coupons, discounts, and loyalty rewards.”

    • Willam Hugh Murray, CISSP

      I use Apple Pay, LoopPay, PayPal, and Coin. While I use credit card accounts, I no longer carry those dangerous cards. All my transactions are “mobile.”

      • Cool! Out of those,which is your preferred method, and why?

        • Willam Hugh Murray, CISSP

          Apple Pay for security and ease of use, LoopPay for acceptance, Coin for backward compatibility. Apple Pay uses a digital token for security but is only accepted at NFC terminals. LoopPay uses credit card numbers but is accepted at “swipe” readers. Coin works in almost all credit card readers while hiding the credit card number from the waiter.

          Samsung Pay incorporates the advantages of Apple Pay and LoopPay but works only with a small number of Samsung phones. I expect a software update to my LoopPay that will make it work like Samsung Pay.

    More headlines...