Apple Pay Beats PayPal in Payments Race

PaulRubens - February 9, 2017 - 10:21 AM

Apple Pay Beats PayPal in Payments Race

Apple's Apple Pay contactless payment service is now the most widely accepted in the U.S retail sector.

(CCM) — Apple Pay has toppled PayPal to become the most popular mobile payment service among U.S. retailers, according to a report in NFC World. The most recent research carried out by Boston Retail Partners found that 36% of merchants accept Apple Pay, a huge increase on the 16% that accepted it last year. PayPal boasts a 34% acceptance rate, followed by Mastercard PayPass on 25%, Android Pay on 24%, Visa Checkout on 20%, and Samsung Pay on 18%. Apple Pay appears to have strong momentum behind it, with 22% of retailers planning to start accepting it in the next twelve months. By contrast 18% are planning to accept Android Pay in the next 12 months, and just 11% are planning to accept Samsung Pay.

Apple Pay was launched by Apple in October 2014 in the U.S., providing a way to make contactless payments using an Apple Watch (any version) or iPhone 6 or later. The company reportedly receives a 0.15% cut of U.S. purchases made using Apple Pay. Services are becoming increasingly important to Apple, and now represent Apple's second largest source of income after iPhone sales but ahead of sales of its Mac computers and iPad tablets. Apple Pay usage has been accelerated by the adoption of the Apple Watch, which sold 6 million units in the final quarter of last year, according to a Canalys report.

Image: © Bloomua - Shutterstock.com

Latest update on February 9, 2017 at 10:21 AM by PaulRubens.

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