5 years after Apple Pay first launched in the United States, it has become the most popular mobile payment app in the country surpassing the Starbucks mobile app which had long been the leader.
The report from eMarketer estimates that Apple Pay continues to grow in user base. Last year, Apple Pay was estimated to have a user base of 27.7 million users in the United States. In 2019, that is expected to grow to 30.3 million users which would allow Apple to grab 47.3% of the total mobile payment market share. The previous market leader, Starbucks, is estimated to have around 25.2 million users this year and account for 39.4% of the mobile payment users.
Google Pay and Samsung Pay occupy the third and fourth position with 12.1 million and 10.8 million users, respectively.
Apple Pay has continued to grow in popularity and user base thanks to the wider adoption of NFC-based PoS terminals across major retailers and grocery chains in the United States. By the end of 2019, Apple Pay is estimated to be available across 70% of the retailers. In comparison, the Starbucks mobile app has limited room to grow since it can only be used at Starbucks outlets. Then there’s also the fact that Starbucks itself has added Apple Pay integration in its app.
As mobile payments will surge in popularity, so will the popularity and adoption of Apple Pay among consumers and retailers alike. No wonder then that Apple has been incredibly bullish about Apple Pay and even boasted about its growth and the number of transactions it is processing. Apple has also greatly expanded the availability of Apple Pay in countries outside of the United States, though it still has a long way to go in terms of both adoption and availability.
How has your experience with Apple Pay been? Do you now solely rely on it for mobile payments?[Via eMarketer]