Only 1 in 5 people who have Apple Pay actually use it, survey shows

From Tech Insider –

“Only about one in five people who have phones with Apple Pay, the year-old mobile payments service from Apple, actually use it. That's according to a new survey from Trustev, a company that helps retailers and banks prevent online fraud.

And only about 1 in 7 people who can use Samsung Pay or Android Pay, "mobile wallets" that work on some Android phones, have tried them, according to the survey.”

Check out the full survey>>

 

The 'Pay' model is strong, but banks are still in play

From Mobile Payments Today –

“Apple Pay registered some impressive figures when it launched in the U.S. in 2014. It seems, though, that adoption has slowed, as more devices go unregistered and the initial hype dies down.

An ongoing survey conducted by InfoScout in cooperation with PYMNTS.com shows the number of eligible Apple Pay users who tried the service dropped from 15.1 percent in March to 13.1 percent in June. The victory, though, is the impact on the market. Apple has done an exceptional job in bringing mobile contactless payments into the mainstream, paving the way for Samsung, Google and the banks.

Samsung Pay has been live in Korea since August 20 and has picked up around 500,000 users. This statistic should grow following launch in the U.S. at the end of September and not least because the platform can make payments with both contactless and mag stripe terminals. On top of this, Google launched Android Pay on September 10. We're yet to see any adoption figures here but the land-grab is certainly going to be interesting. Indeed, the advertising war has already commenced!”

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Major mobile wallet providers not distinguishing themselves

From Mobile Payments Today –

“We now know that Samsung Pay will launch in the U.S. next month after first debuting in South Korea. We also know that the Merchant Customer Exchange will publicly test CurrentC in Columbus, Ohio, starting in a few weeks.

After those two bits of news broke this past week, I now can say with confidence that the current mobile wallet industry in this country resembles an elementary school play.

When I was in grade school, select classes produced one play per year. I participated in five plays (and had the lead role most of the time, thank you very much).

One thing I’ll always remember about each play is when it came time to do musical numbers, all my classmates flooded a small stage to participate. Everyone got a chance to shine, and no one's voice stood out from the crowd.

The mobile wallet industry right now is that musical number and no provider is really differentiating itself from the others, at least in the eyes of consumers.

Apple Pay leads the pack in media hype, but its success with consumers is difficult to measure at the moment because there are conflicting reports about it.”

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