Apple Pay shows steep consumer adoption curve

Apple Pay shows steep consumer adoption curve

The Apple effect on mobile payments uptake in the US is thrown into relief by a new survey of iPhone 6 users by Auriemma Consulting, which shows that fully 42% have tried Apple Pay, with three quarters of the sample going on to make repeat purchases.

The random sample of of 500 iPhone 6 and 6+ owners conducted last month found that more than two in five respondents reported having successfully used Apple Pay at least once. Moreover, three-quarters of these consumers made a repeat Apple Pay purchase at the same location as their initial trial.

"Adoption of Apple Pay has been swift and widespread among iPhone 6 owners," says Marianne Berry, managing director of ACG's Payment Insights division. "Given that the product was launched only four months before this survey, the extent of both trial and repeat usage is impressive."

Just last month, JPMorgan Chase reported that over one million of its customers had uploaded their cards to Apple Pay and where actively using the service to make payments.

Among people who have used Apple Pay, 43% have used it only in a brick-and-mortar location, but 37% have used it both in-store and in-app, while 19% have used it only in-app.

"The use of Apple Pay online is less visible than in the physical world, but has big implications for mobile commerce," says Berry.

Those who have used their phones to make a payment are generally upbeat about the experience, with a 98% positive satisfaction rating scored.

"This steep adoption curve is likely to continue for some time," Berry notes, "given that almost half - 47% - of iPhone 6/6+ owners who haven't yet tried Apple Pay say that they intend to do so within the next six months."

Comments: (1)

A Finextra member
A Finextra member 12 March, 2015, 12:31Be the first to give this comment the thumbs up 0 likes

Would be good to hear more on the fraud experience of Apple Pay which sounds like its suffering an initial peak fraud - will probably come down as banks and Apple improve their procedures.

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