Tag: iPhone 6 Plus

Survey highlights the growth of Apple’s mobile payments service

| March 16, 2015

Apple Pay is gaining momentum among iOS users

Baird Equity Research has released the results of a new survey concerning iPhone users and Apple Pay. Apple’s mobile payments service was released in October of last year and has managed to find significant momentum despite the short period of time it has been available for. The service can be used on both the iPhone 6 and iPhone 6 Plus, but it is not available for other iOS devices at this time. Apple Pay is expected to be compatible with a smartwatch that Apple is planning to release at some point in the future.

PayPal leads in mobile payments, but Apple Pay accounts for 6% of all in-store mobile transactions

According to the survey, 40% of online consumers made an in-store purchase with a mobile device. PayPal was the most preferred application among this consumers, with Google Wallet accounting for 11% of these transactions. Apple Pay only accounts for 6% of in-store mobile payments, but a significant portion of iOS users currently use the platform regularly. Approximately 40% of iPhone 6 users  make use of Apple Pay to purchase products in physical stores as well as online.

Apple Pay is beginning to become more popular among retailers

Mobile Payments Survey - highlights growthThough PayPal remains the leading entity in mobile payments, Apple Pay is expected to catch up quickly. The service has the support of several major retailers, many of whom want to engage mobile consumers more effectively. These retailers partnered with Apple for the launch of the mobile payments service and have begun to find significant success in the mobile space as a result. As more retailers show support for Apple Pay, the service may begin to play a larger role in the overall mobile payments space.

Young consumers are more likely to participate in mobile payments

Notably, young consumers, between the ages of 18 and 24, are the most likely to make in-store mobile payments. Such transactions had the highest frequency among this demographic, according to the survey from Baird Equity Research. The survey notes that these consumers tend to make a mobile transaction in a physical store as many as four times per month.

New details about Apple’s mobile payments service emerge

| October 14, 2014

Leaked training material helps shed light on Apple Pay features

Apple has begun training its retail employees on the various aspects of its new mobile payment service. The company recently unveiled Apple Pay, which represents its first step into the mobile payments space. The service has yet to officially launch, but it has already received strong praise from businesses and consumers alike. Training material acquired by 9to5Mac sheds some light on some of the features of Apple Pay and shows off features of the service that have not yet been revealed officially.

Apple Pay is designed to work with Passbook

According to the training material, Apple Pay can be set up through the Passbook application. Passbook is Apple’s version of a digital wallet, capable of storing a wide range of virtual information, including special deals offered by retailers and financial details. The service can also be set up through the initial iOS 8 startup process for new iOS devices. As many as eight credit and debit cards can be associated with Apple Pay at any given time and these cards can be linked to Apple Pay through a user’s iTunes account.

NFC technology will control mobile transactions made through Apple Pay

New Apple Mobile Payments DetailsApple Pay will be using NFC technology in order to facilitate mobile payments. This technology has comprised the backbone of the mobile commerce space for some time, but Apple had considered it dangerous in the past. Over the past few years, Apple has been taking a slow approach to the mobile payment space, citing security concerns as the reason for its cautious approach. Apple may have found a way to make NFC technology more secure using biometric technology.

Apple Pay set to launch October 18

According to a leaked memo from one of Apple’s launch partners for Apple Pay, the new mobile payment service is set to see an official launch on October 18. The service will be available for the new iPhone 6 and iPhone 6 Plus devices, as well as Apple’s forthcoming wearable devices that is expected to be launched at some point in early 2015.