CUPERTINO, Calif.—Apple Pay saw usage jump by 50% between December 2015 and December 2016, according to data from consumer spending analytics portal TXN.
Mobile apps and websites attracted the highest proportion of transactions.
“U.S. convenience store chain Duane Reade has the highest proportion of Apple Pay credit card transactions out of all supporting in-store locations with 1.80%, followed by supermarket chain Whole Foods with 1.70%. All other in-store retailers have Apple Pay transaction volumes of less than 1%. Starbucks falls in last place with just over 0.40%,” stated NFC World in its analysis.
“Looking at all supporting retailers across in-store, in-app and online, mobile apps and websites attract the highest proportion of Apple Pay credit card transactions, with lodging app Hotel Tonight topping the list with about 3.40%, followed by food delivery services Caviar (3.30%), Postmates (2.60%) and DoorDash (2.45%),” the publication continued.
Among grocery stores, Boxed.com claimed the highest share with 2%, followed by gift card marketplace Raise.com with 1.70%. The least popular website for Apple Pay credit card transactions is AirBnB with about 0.20%.
Bill Hardekopf, CEO of LowCards.com, Birmingham, Ala., noted that mobile wallets are showing significant growth—but their share of overall payments transactions has been very small.
“So those growth figures, especially in terms of percentages, can be somewhat misleading,” said Hardekopf. “The vast majority of consumers do not seem to be interested in changing their payment options. They don't see a concrete reason to do so. Swiping a debit or credit card does not seem to be that much of an inconvenience. We will continue to see growth in mobile wallet usage, but I think it could be slower than people expect. I believe most of the growth will take place with younger consumers. Currently, just over a third of Millennials have used a mobile wallet, compared to only 16% of the adult population.”