Ingenico Group: Apple Pay Showing Early Signs of Success in US
French payment solutions company Ingenico Group released an infographic detailing the early success of Apple Pay in the United States.
Ingenico Group cited both merchant and consumer demand for more convenient and secure payment options as the primary contributor to the success of Apple’s new payment service.
Within 72 hours after launching, Apple Pay saw over 1 million cards registered with its service, according to the report. As of July 2015, there were over 1 million reported locations that support the new payment service.
45 percent of all smartphone users who use payment apps are now using Apple Pay.
Compared to traditional credit cards, 73 percent of these users felt that Apple Pay was easier to use, 77 percent said it was faster, and 70 percent said it was more convenient.
Apple Pay is proof that consumers are willing to move to mobile payments, and it may serve to open the doors for other players in this space.
“Apple Pay helped promote NFC – consumers are now comfortable with the concept and the security aspects. This benefits all other mobile payment solutions based on NFC, including offerings like Android Pay. This is just the beginning of mobile payments – we think there’s much more innovation to come,” said Thierry Denis, President of Ingenico Group North America.