We reported this morning that vice president of Apple Pay Jennifer Bailey recently shared her thoughts on the battle going on between Apple and Australia’s big banks.
In the new interview, Bailey made optimistic statements about the future of Apple Pay in Australia with one of the more interesting ones being “customers will say they are happy to switch banks to use it.” We’re curious to know, is this true for you? Have you or would you switch banks for Apple’s payment service?
Apple Pay is seeing strong growth such as a tripling of users in the last year and 500% transaction growth in the previous holiday quarter. The success of Apple Pay on the web and in apps has certainly contributed to this growth.
We’ve also seen companies like Square running promotions to encourage small businesses to accept Apple’s payment service and USA Technologies adding Apple Pay support to 300,000 plus vending machines.
Even with this positive momentum and growth some analyst firms such as TXN Solutions estimate that even the retailers with the highest volume of Apple Pay transactions such as Duane Reade and Whole Foods are still only about 1.8% of total transactions.
While the majority of consumers aren’t using Apple Pay I value it enough that I would have changed banks if my credit union wouldn’t have offered support early on, is the same true for you? And if it is, there’s definitely a difference between being glad to do so and feeling like you’re forced to because of a lack of choice.
Even though our poll may be skewed because of the tech-conscioius and tech-savvy nature of our readers, we want to know if you have or would change banks for Apple Pay.
FTC: We use income earning auto affiliate links. More.