Study shows that Apple Pay continues to struggle to find a foothold with consumers
Relatively few people are using Apple’s new mobile payments service, called Apple Pay, according to a new study from Trustev. Apple released its mobile payments service earlier this year, with the backing of several large retailers and banks. In the United States, the service has struggled to find a foothold among consumers, as they appear to favor other payment services that were also recently released in the country. As a market, mobile payments continues to grow in the U.S., with more consumers favoring paying for products with their smartphones and tablets.
Digital wallets are gaining popularity among consumers
Many mobile payment services operate in the same manner, serving as a form of digital wallet that can store information from consumers and retailers. Digital wallets have become very attractive to consumers because they provide a convenient way to purchase products. A growing number of retailers are beginning to support mobile payments in their physical stores and these digital wallets are becoming quite important to consumers.
20% of iOS users are making use of Apple Pay
According to the study from Trustev, only 20% of people participating in mobile payments in the United States are using Apple Pay. Of those using Apple Pay, 56% have reported that they have used the service once during a typical week. Another 15.3% say they have never used it during their week. While few people may be using Apple Pay, fewer are using other services provided by Google and Samsung. All of these services have been competing for the attention of consumers, but they have struggled to find a foothold with mobile shoppers.
Apple Pay may continue to struggle to find support among consumers
One of the challenges that Apple Pay faces is that it is only available to a very small portion of society. The service can only be used by those with the latest iPhones. While the device has proven to be quite popular among Apple fans, relatively few people have the latest edition of the company’s flagship smartphone.
Mobile commerce continues to grow throughout the world
Mobile commerce is evolving quickly throughout the world, especially as more companies become involved within this space. Companies that develop mobile wallets are expected to see promising new opportunities in this sector, as they have come to play a major role in the mobile commerce market. Discover Financial Services believes that mobile commerce will become a powerful force throughout the world, as it continues to grow as consumers are becoming more reliant on their mobile devices when shopping online and in the physical world.
Consumers now expect an enjoyable digital shopping experience from merchants
Amy Parsons, vice president of global commerce at Discover, notes that digital shopping experiences are no longer simply luxuries. Consumers now expect retailers to support digital shopping, especially when it comes to shopping with a mobile device. Retailers will have to vastly improve the mobile shopping experience if they want to secure customer loyalty. Poor shopping experiences can drive consumers to other retailers that have better offerings. Those becoming mobile-centric are expected to be able to take advantage of promising new opportunities that they did not have before.
Discover sees promising opportunities for merchants that want to engage in mobile commerce
Discover has been keeping track of the growth of mobile commerce, noting that more consumers are beginning to rely on mobile wallets when it comes to shopping online and in physical stores. The applications allow consumers to store a wide range of information, including digital coupons and loyalty rewards offered by their favored merchants. These apps also store financial information, allowing consumers to pay for products that they are interested in conveniently.
Discover to continue working with companies to help them become more mobile-centric
Mobile commerce is expected to continue growing, with Discover likely to play a larger role in this sector. The company is moving the important aspects of a merchant’s business over to the mobile space, as well as the digital space. The company will continue to work with merchants in order to provide them with ways to effectively engage mobile consumers.
