Dive Brief:
- Two-thirds of merchants interested in digital payment solutions want Apple Pay, according to a new survey of payment processing vendors from Piper Jaffray.
- Android Pay and Google Wallet came in a distant second with 18% of retailers that have or asked about digital systems, followed by PayPal (8%) and Samsung Pay (7%).
- Projections say that 148 million people worldwide will use their smartphones to pay retailers this year, up 64% from 2015’s 90 million.
Dive Insight:
Apple Pay has achieved dominant share-of-mind among retailers interested in using a digital payment system, according to a new survey of point-of-sale providers from financial services firm Piper Jaffray. Of the 44% of retailers that use or asked about digital payment systems, 67% want Apple Pay—twice as many as all other options combined.
That’s particularly bad news for PayPal, the longtime leader in online payments and former eBay unit that announced plans to introduce Near Field Communications capabilities to its mobile app only last month. PayPal came in third in the survey, with just 8% of respondents. Alphabet’s offerings, Android Pay and Google Wallet, had a relatively strong showing at 18%, and Samsung Pay garnered 7%.
The number of consumers worldwide who use smartphones to make payments at retailers is expected to jump 64% this year to reach 148 million, according to estimates from British research firm Juniper. The company (or companies) ready to accommodate that surge will help define mobile payments for years to come.
