The latest report shows that Apple Pay has surpassed the Starbucks to become the most popular mobile payment system in the United States for the time, especially consider the fact that the latter had long led the category.
The research done by eMarketer, suggests that Apple Pay occupied this major market position last year, when 27.7 million Americans made their transactions through Apple Pay. Simply put, Apple's mobile payment solution growth rate exceeded all the expectations.
The report cites information from Digital Trends and it estimated that Apple Pay will support 70% of US retailers by the end of 2019. The Starbucks app has accounted for 40% of mobile payments over the last few years, but as it can only be used in Starbucks locations, the potential for growth is limited.
To date, Apple Pay has entered 47 markets and its number of new customers has now exceeded that of PayPal, plus the monthly transaction volume has also risen fourfold.
The research done by eMarketer, suggests that Apple Pay occupied this major market position last year, when 27.7 million Americans made their transactions through Apple Pay. Simply put, Apple's mobile payment solution growth rate exceeded all the expectations.
"Apple Pay has benefited from the spread of new point-of-sale (POS) systems that work with the NFC signals Apple Pay runs on," said eMarketer principal analyst Yory Wurmser. "The same trend should also help Google Pay and Samsung Pay, but they will continue to split the Android market."By end of the year, it's estimated that Apple Pay would have 30.3 million users, representing for 47.3% of all mobile payment users. While, Starbucks mobile app is said to have around 25.2 million customers, making up for 39.4% of total mobile payment users.
The report cites information from Digital Trends and it estimated that Apple Pay will support 70% of US retailers by the end of 2019. The Starbucks app has accounted for 40% of mobile payments over the last few years, but as it can only be used in Starbucks locations, the potential for growth is limited.
To date, Apple Pay has entered 47 markets and its number of new customers has now exceeded that of PayPal, plus the monthly transaction volume has also risen fourfold.
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