Roger Fingas
In two years from now as many as 225 million people may be using Apple Pay on mobile devices, according to research estimates published on Monday.
By 2020, the "OEM pay" market — meaning platforms like Apple Pay, Google Pay, and Samsung Pay — should hit 450 million users, Juniper Research said. The firm specifically noted it's expecting half of these people to be using Apple Pay, despite the broader global popularity of Android phones.
"We believe that growth over the next five years will continue to be dominated by offerings from the major OEM players," wrote Juniper's Nitin Bhas. "Additionally, we now have the likes of Huawei Pay and Fitbit Pay launching in several markets; this is now included in Juniper's contactless forecasts."
Fitbit Pay rolled out with the Ionic smartwatch last year, and has so far been limited to that and the Versa. Google Pay is supported by many more devices, even with the fragmentation of Android.
Apple Pay has been supported on iPhones and iPads since 2014, the Apple Watch since 2015, and Macs since the introduction of Apple Pay on the Web. Touch Bar-equipped MacBook Pros can use Apple Pay without a companion device.
Looking again at its 2020 target, Juniper suggests that OEM pay systems will top $300 billion in transactions, accounting for 15 percent of all contactless in-store payments.
Apple Pay is continuing to evolve, for instance through the introduction of PayPal-like Apple Pay Cash transfers and the switch from Touch ID to Face ID on the iPhone X. More devices are likely to adopt Face ID, such as upcoming iPhones and iPads.
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18 Comments
Apple Pay may account for half of mobile wallet users by 2020Not if Apple doesn't get actually aggressive about getting vendors to accept and advertise they accept Apple Pay. Apple talks about all the banks being added to the Apple Pay fan club. But until more Apple customers know that more vendors are accepting it, it's practically languishing.C'mon c'mon, Apple! AP commercials! My local MacDonald's has been accepting AP since early days, and their staff is often surprised that it's used even though they see a lot of iPhones.When chatting up people with an iPhone, I find a lot of them don't really know what AP is and a few who have still never heard of it. C'mon c'mon!
Yes, even though you can ask Siri for nearby stores and restaurants that accept Apple Pay, it would be good of Apple to offer email sign up to people to get them accustomed to it, better security, speed, etc. and the local vendors near you via Siri. In fact, Apple really needs to overhaul their email offerings to customers. I reluctantly opted out of Apple email since I was getting to many suggestions for TV shows, books, apps, etc. it seemed like spam. I complained directly to Apple a week ago. And as of now anyway you CANNOT winnow that down, and only get news on Apps, since they lump it all together. Crazy! Apple is still a sleeping giant. Still a long way to go to utilize services in its customer base.