Apple Pay makes gains in US mobile payment market

apple-pay_shopApple Pay now has support from 36%of US merchants, according to new data from Boston Retail Partners, a retail consultancy. This reflects an increase of 16% compared to a year ago, and an additional 22% of the 500 merchants surveyed indicated that they plan offer Apple Pay support within the next 12 months.

The most recent research carried out by Boston Retail Partners found that 36% of merchants accept Apple Pay, PayPal came second with a 34% acceptance rate, followed by Mastercard PayPass on 25%, Android Pay on 24%, Visa Checkout on 20%, and Samsung Pay on 18%. Apple Pay appears to have strong momentum behind it, with 22% of retailers planning to start accepting it in the next twelve months. By contrast 18% are planning to accept Android Pay in the next 12 months, and just 11% are planning to accept Samsung Pay.

However, as MacRumors notes, since many of these platforms are compatible wherever NFC payments are accepted, ‘it seems merchants may be referring to “official” support or may be unaware of the way contactless payments work.’ On the other hand, it’s worth bearing in mind that, according to a recent analysis from TXN, Apple Pay transactions make up only a small percentage of the total credit card payments accepted by retailers.

Meanwhile, Apple continues to shore up its support on the financial services side, with 27 newly announced bank and credit union supporters in the US, and new support from Wirecard’s Boon service in Switzerland and B&N Bank in Russia.

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Categories: Apple Pay

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