Apple Pay Responsible for 1% of Digital Payment Dollars in November, Most Popular at Whole Foods
Apple Pay is seeing impressive early adoption numbers according to a new ITG Investment Research Report on Mobile Payments (via MarketWatch), which suggests Apple's new payment service was responsible for a total of 1 percent of digital payment dollars during the month of November.
Apple still trails industry leaders like Square and PayPal, which captured 18 and 78 percent of digital payment dollars in November, respectively, but ITG analysts suggest Apple Pay is showing strong momentum given that it's available only to customers with the newest hardware and supported by a limited number of merchants.
According to the report, which uses data from ITG's Investment Research consumer panel, 60 percent of new Apple Pay customers used the service on multiple days throughout November, averaging 1.4 use times per week. In comparison, only 20 percent of new PayPal customers used the service multiple times during the same time period.
Among customers who used Apple Pay, Whole Foods was the location where the service was used most, capturing 20 percent of all Apple Pay transactions. Walgreens came in second, with 19 percent of transactions, and McDonald's was third, with 11 percent of transactions. Whole Foods was also saw the highest spending, responsible for 28 percent of all Apple Pay dollars spent.
Available since October 20, Apple Pay is accepted at several of Apple's partner stores and at more than 200,000 retail locations where NFC payments are accepted. Apple has given little indication of Apple Pay's early success, but in October, Apple CEO Tim Cook revealed that Apple Pay had seen more than one million credit and debit card activations during its first 72 hours of availability.
Popular Stories
The iPhone is Apple's top-selling product, and it gets an update every year. In 2024, we're expecting the iPhone 16 and iPhone 16 Pro lineup, with an arguably more interesting feature set than we got with the iPhone 15 and iPhone 15 Pro. Subscribe to the MacRumors YouTube channel for more videos. Capture Button All four iPhone 16 models are set to get a whole new button, which will be...
Apple is widely expected to release new iPad Air and OLED iPad Pro models in the next few weeks. According to new rumors coming out of Asia, the company will announce its new iPads on Tuesday, March 26. Chinese leaker Instant Digital on Weibo this morning 日发布%23">claimed that the date will see some sort of announcement from Apple related to new iPads, but stopped short of calling it an...
Apple suppliers will begin production of two new fourth-generation AirPods models in May, according to Bloomberg's Mark Gurman. Based on this production timeframe, he expects the headphones to be released in September or October. Gurman expects both fourth-generation AirPods models to feature a new design with better fit, improved sound quality, and an updated charging case with a USB-C...
Resale value trends suggest the iPhone SE 4 may not hold its value as well as Apple's flagship models, according to SellCell. According to the report, Apple's iPhone SE models have historically depreciated much more rapidly than the company's more premium offerings. The third-generation iPhone SE, which launched in March 2022, experienced a significant drop in resale value, losing 42.6%...
MacRumors was first to report that Apple was planning to rebrand "Apple ID" to "Apple Account" across its software platforms and websites like iCloud.com as early as this year, and now Bloomberg's Mark Gurman has corroborated this change. A mockup of the new Apple Account branding In his Power On newsletter today, Gurman said the new "Apple Account" branding will start to be used later this...
iOS 17.4.1 and iPadOS 17.4.1 should be released within the next few days, with a build number of 21E235, according to a source with a proven track record. MacRumors previously reported that Apple was internally testing iOS 17.4.1. As a minor update for the iPhone, it will likely address software bugs and/or security vulnerabilities. It is unclear if the update will include any other changes. ...
Apple's new iPad Pro models with OLED displays will likely begin shipping to customers in April, according to information shared today by Ross Young, CEO of display industry research firm Display Supply Chain Consultants. Bloomberg's Mark Gurman also said the new iPad Pro models might not ship until "deeper" into April in his Power On newsletter on Sunday:I've repeatedly said that new...
Top Rated Comments
Stereotypes FTW!
There is, it is called accept NFC payments.