Apple Pay Boasts The Highest Percentage Of Supporting U.S Merchants
Digital payments are gradually becoming a trend and if you're in the United States, there is very high chance that you're using Apple's mobile payment service. Apple Pay has been with us for quite a while now. Since the company has not rested the availability of its mobile payment to its home region alone, Apple is gradually extending the reach of its mobile payment service to other countries. However, according to a new research conducted by the Boston Retail Partners, Apple Pay brags the largest percentage of supporting U.S merchants. Let's dive in to see some more details on the matter.
Apple Pay Is Accepted By 36 Percent Of Merchants In The United States
Apple Pay has now been accepted by 36 percent of merchants in the United States. Compared to last year, the numbers have increased from 16 percent. The information is derived from a survey of more than 500 top North American regions. Apart from the hefty number who have accepted the service, 22 percent of retailers said that they have plan to accept the payment service within a year. Moreover, 11 percent of the retailers have a plan to implement Apple Pay in the next three years. 31 percent of retailers plans to "wait and see" before they finally implement it.
The next most widely used payment service was PayPal with 34 percent. MasterCard PayPass scored 25 percent, while Android Pay secured 24 percent of supporting merchant in the United States. Samsung Pay on the other hand had 18 percent of retailers accepted Samsung Pay.
"PayPal has been bumped out of its top spot in this year's survey, with Apple Pay now being accepted at 36% of the retailers participating in the survey. This is up significantly from 16% last year, and signals a growing acceptance by retailers and customers."
"This year, fewer retailers are adopting a wait and see approach for Apple Pay and PayPal -- likely because of the growing support from the payment software ecosystem and the acceptance for these mobile payments by the public."
Apple's CEO, Tim Cook during the company's first quarter earning call stated that the number of Apple Pay usage had tripled over the course of previous year. Apart from this, the transaction volume was up by 500 percent year-over-year. Tim Cook also stated that more then two million small businesses now accepted Apple Pay.
This is it for now, folks. What are your thoughts on Apple Pay securing the highest percentage of supporting merchants in the United States? Share your thoughts with us in the comments.