1redDrop – When Tim Cook launched Apple Pay in September 2014, not many in the world would have thought that the company would soon become the most accepted mobile payments service in the United States. Apple has taken just over two years to get 36% of U.S. merchants to start accepting Apple Pay, up from 16% in 2016.
Apple Pay leads the field in alternative payments / mobile wallet
Apple Pay ranked against other alternative payment types such as mobile wallets
A recent survey conducted by Boston Retail Partners found that 36% of US merchants already accept Apple Pay, with another 22% saying that they plan to accept the payments service in the next 12 months. PayPal came in second, with 34% acceptance, and Android Pay is accepted at 24% of merchant locations.
Apple Pay and PayPal have run away with the market, creating a solid lead over others in the overcrowded mobile payments service market. This is obviously great news for Apple, because the more merchants start accepting mobile payments, the more it increases awareness about Apple Pay. In turn, this will increase user adoption rates as well as transaction volumes.
Read Full Article: Apple Pay is Now the Number One Mobile Wallet in the World, What Next?