According to Loup Ventures, as of last September Apple Pay was active on 507 million iPhones around the world. In addition, adoption by both businesses and financial entities has risen 20% compared to the previous year.
An annual growth of 15% and with good prospects
Loup Ventures has released its annual report on Apple Pay adoption. According to his study, this past September Apple Pay was active on just over 507 million iPhone. A 15% improvement over the previous year’s figure of around $ 441 million.
Put in perspective this implies that 51% of all currently active iPhones have Apple Pay activated, a figure without a doubt astonishing. The company specifies that, although they cannot offer statistics on the use of this payment method, they estimate that it has increased more than 30% in the last six months. Part of this increase is attributed to the fact that the current situation encourages contactless payments.
Regarding banks and establishments compatible with Apple Pay, the study speaks of a rise of 20%. In this field, a distinction must be made between the support of financial entities, which do have to adapt their systems to the registration process and other requirements, and the support of businesses. The latter only need a contactless compatible dataphone, which is the system that works at the core of Apple Pay.
More than half of the world’s iPhones enjoy Apple Pay.
As for the web, the different websites do need to make certain adjustments to support Apple Pay. According to the study, approximately 40% of major websites support Apple Pay on desktop, 39% on mobile, and 43% on iOS apps. Here the greatest growth, reaching 39% compared to the previous year, is that of mobile phones, followed by 22% for the desktop and 20% for apps.
As for banks and financial institutions that offer support for Apple Pay, in September 2020 the number amounted to 5,480 banks, a 29% growth compared to the 4,250 of the previous year. Finally, regarding adoption in physical stores, Loup Ventures estimates that 85% of all of them offer support for Apple Pay in the United States. A figure that increases to 95% if we look at the most important stores.
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It is clear that the ease of use of Apple Pay, which in the end is reduced to making a double tap on the side button of our Apple Watch, combined with the security offered by the system, makes this payment method very attractive. If we add the compatibility with vehicle keys, although this system is still being deployed, or the ability to carry our driver’s license, ID or even house keys on our iPhone, the ease of replacing our wallet is more evident than never.