NEW YORK—Retail shoppers making purchases using digital wallets have shifted from favoring PayPal to Apple Pay, according to a new report, which further found only the latter continues to gain share.
A PYMNTS Intelligence survey of 1,730 consumers in April who had purchased non-grocery retail items in last 30 days examined how consumers are paying for those items.
“The study found that, at the start of 2022, PayPal was retail customers’ digital wallet of choice, and it was not even close,” PYMNTS reported. “However, in the time since, Apple Pay has taken the lead. The Apple-owned digital wallet briefly surpassed the former favorite online payments system in the first quarter of last year before falling behind again. However, as of the first quarter of this year, Apple is ahead, and in the second quarter, that lead only continued to widen.”
Additional Findings
The analysis found that as of Q2, 12% of consumers had made their last retail purchase using a digital wallet. Roughly 6% had used Apple Pay, and 4% had used PayPal.
“There are some categories that are growing very fast, … because they are relatively smaller in the scheme of our services business, like cloud, video, payment services. Those all set all-time revenue records,” Apple CFO Luca Maestri told analysts on the company’s last earnings call, PYMNTS reported.
The rise in Apple Pay usage comes as consumers make more mobile purchases overall, the report added.
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