Skip to main content

Apple Pay ‘State of the Union’ report details adoption among retailers

Apple Pay has been steadily growing as Apple continues to add support for new banks and rolls out the service to users in more countries, but we have less data on how much its been adopted in retail and among users. Giving some insight to usage, Apple analyst Gene Munster at Loup Ventures today released his “Apple Pay State of the Union” giving a look at adoption among retailers and much more.

Using the Internet Retailer top 100, the data shows retailer adoption as a percentage of potential adoption. The adoption includes all possible points of adoption for the platform including point of sale, in app, and through Apple Pay on the web for website checkout on both mobile and desktop browsers. Among the numbers, 31% have implemented at least one point of adoption, while an impressive 44% of the Internet Retailer 100 have adopted Apple Pay at point of sale. A similar 40% have adopted it as an in-app payment option.

When looking at those that have adopted Apple Pay at all possible points of adoption, it currently sits at 22% for the top 100.

Apple Pay State Of The Union:

  • 2,091 banks accept Apple Pay globally, up from 1,439 in July of 2016.
  • We estimate about 13% of active iPhones have activated Apple Pay.
  • We estimate 30% of new iPhones are activating Apple Pay.
  • 53% of retailers listed as “coming soon in browsers” have launched in the first 6 months.
  • 31% of retailers in the Internet Retailer 100 accept Apple Pay, up from 28% in Oct.
  • 44% of retailers in the Internet Retailer 100 have adopted Apple Pay at point of sale.
  • 40% of retailers in the Internet Retailer 100 have adopted Apple Pay in-app.
  • 13% of retailers in the Internet Retailer 100 have adopted Apple Pay in mobile browsers.
  • 9% of retailers in the Internet Retailer 100 have adopted Apple Pay in desktop browsers.
  • 22% of all possible points adoption leverage Apple Pay within the Internet Retailer 100.

Apple Pay adoption among users is trickier, and Munster notes that he can only estimate that around 30% of new iPhone users are activating Apple Pay based on Apple’s now somewhat outdated figures released last year:

Consumer adoption of Apple Pay. Consumer adoption is the most important and most difficult metric to measure. Based on a data point Apple disclosed in April 2016, we believe that users are activating Apple Pay on about 30% of new iPhones. In total, we estimate that 13% of the 680m iPhones in use today have activated Apple Pay. We do not have any data on usage of Apple Pay by iPhone users. Apple reported that transactions were up “nearly 500% y/y” in the Sept. 2016 quarter.

The report also notes that Apple Pay is now up to 2,091 supported banks globally. That’s up from 1,439 in July 2016.

Apple has been continually adding more banks and credit unions to its list of those supported by Apple Pay. Earlier this month it rolled out the service in Ireland as the 14th country to accept the service alongside the United States, Canada, United Kingdom, France, Russia, Spain, Switzerland, Australia, China, Hong Kong, Japan, New Zealand, and Singapore. The latest reports hint that Apple could next bring the service to TaiwanGermany and Italy.

You can read Gene’s full report at Loup Ventures here.


FTC: We use income earning auto affiliate links. More.

You’re reading 9to5Mac — experts who break news about Apple and its surrounding ecosystem, day after day. Be sure to check out our homepage for all the latest news, and follow 9to5Mac on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our exclusive stories, reviews, how-tos, and subscribe to our YouTube channel

Comments

Author

Avatar for Jordan Kahn Jordan Kahn

Jordan writes about all things Apple as Senior Editor of 9to5Mac, & contributes to 9to5Google, 9to5Toys, & Electrek.co. He also co-authors 9to5Mac’s Logic Pros series.