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BizReport : Ecommerce : April 11, 2017


Apple Pay contactless user numbers to double in 2017

Plastic card payment continues to dominate the contactless payment market but, according to Juniper Research, the growth in mobile and wearables payments will be significant over the next few years.

by Helen Leggatt

By 2021, Apple Pay, Android Pay and Samsung Pay will have, between them, 500 million virtual wallet clients, with a forecast combined market share of 56%, according to Juniper.

The report, 'Contactless Payments: NFC Handsets, Wearables & Payment Cards 2017-2021', reveals that in the first half of 2017 alone, users of Apple Pay, Android Pay, and Samsung Pay will exceed 100 million.

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The biggest challenge facing all three companies is to ensure that infrastructure is in place to allow payments using their systems. Towards the end of last year the proportion of U.S. retailers supporting Apple's payment service was 35%, up from just 4% in 2014.

"We believe that as contactless usage gains traction and consumers/merchants recognize the speed and convenience it offers, then, as in European markets, there will be a further and significant increase in availability at the point-of-sale", said research author Nitin Bhas.

Tags: contactless payment, mobile, payment methods, technology










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