Apple Pay used by 127 mln iPhone owners - study

Friday 23 February 2018 11:54 CET | News

Apple Pay has an estimated 127 million active global users a new report claims.

The number of active users represent an increase of more than double the 62 million who used it this time in 2017.
While Apple hasn’t given exact figures for its mobile payments service, the figures are based on conclusion drawn by analyst Gene Munster, based on retailer reports.

Munster notes that the total number of banks supporting Apple Pay globally increased by 41% over the past year to 2,707 banks. In addition, he summarizes details that Apple has shared about its Apple Pay adoption, including the fact that adoption and usage is greater outside the US than domestically (3 out of 4 payments are outside the US), and that more than half of US retailers now accept the payment method.

According to the report, around 89 million people using Apple Pay are based outside the US, while the remainder live in the US.

Although 127 million users is certainly an impressive figure, it’s only around 16% of the 795 million active iPhone user base. That gives Apple plenty of potential growth without having to sell a single extra iPhone, but it’s also slower than many at Apple expected.

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Keywords: Apple Pay, study, mobile payments, report, contactless, payments app
Categories: Payments & Commerce
Countries: World
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