Tag: Whole Foods

Apple Pay has established a dominant position in mobile payments

| February 26, 2015

Apple’s payment service becomes more popular in the US market

Apple Pay is taking over the mobile payments space, while its potential rivals struggle to find traction with consumers. The service launched in October of last year, and has managed to acquire a strong amount of support in a relatively short period of time. Retailers have partnered with Apple to support the payment service, hoping that it will allow them to connect with consumers that like to shop from their mobile devices.

Apple Pay accounts for two-thirds of all mobile payments made in the US

According to the Robert Baird analyst group, Apple Pay now accounts for two-thirds of the mobile payments market in the United States. For the retailers that supported Apple Pay at launch, mobile payment volume has increased by a significant margin. Whole Foods, one of Apple Pay’s launch partners, has reported that the mobile payments it has received have grown by more than 400%. Other retailers have reported similar results because of the payment service and its ability to connect with mobile consumers.

Low number of vendors may continue to support Apple Pay

Apple and Mobile Payments Though Apple Pay is being supported by some big-name retailers, there are still a relatively small number of vendors that use the payment service. Analysts believe that there will be relatively little change in this trend in the coming years. Mobile payments are quite attractive to retailers, but this does not mean that these businesses will support Apple Pay specifically. There are other payment services that offer features that could be more attractive to certain types of businesses and these services are available for the Android platform. Apple Pay is only available for iOS devices.

Apple may have some competition coming from Samsung in the future

Apple Pay’s growing popularity may be stymied in the future by the launch of other payment services. Samsung is rumored to be releasing its own mobile payments service in the near future. Both Apple and Samsung have been competitive with one another in the mobile technology space for years, with Samsung having recently established a modest lead in the device market.

Apple mobile payments service is gaining momentum

| November 19, 2014

Apple Pay is beginning to establish a foothold among retailers in the US

Apple Pay is slowly gaining momentum despite the relatively large number of retailers that are simply not ready to accept mobile payments. Apple’s new payment platform is nearly a month old now and has yet to find the monumental success that Apple had hoped to see in a relatively short amount of time. Apple’s retail partners have been somewhat impressed with the payment service however, reporting an increase in mobile spending among customers.

McDonald’s reports significant growth in mobile transactions, thanks to the Apple Pay service

McDonald’s is one of the early adopters of Apple Pay, having deployed the service in 14,000 stores throughout the U.S. The company has announced that Apple Pay accounts for 50% of its mobile transactions. The number of people  making payments through the service at McDonald’s stores has been growing significantly over the past few weeks. Other retailers, such as Whole Foods, have reported similar results, with Whole Foods reporting that more than 150,000 mobile transactions have been made through Apple Pay since launch.

Retailers are looking for new services they can use to effectively engage mobile consumers

Apple Mobile Payments gains momentum with retailersRetailers have shown strong interest in mobile payments for some time, but few have made steps to engage the mobile audience in the past. With the demand for mobile-centric services on the rise, retailers have been looking for platforms they can use to accommodate this demand. Apple Pay is a relatively new service, but has managed to help retailers engage mobile consumers and an effective way.

No lack of competition for Apple Pay

Apple is competing with several other large companies that have entered into the mobile payments space with their own platforms. Google is one such company, having launched its Wallet platform in 2011. Samsung recently unveiled plans to launch its own mobile payment service, which will initially only be available in the Asian market. Several small companies also offer mobile payment services, some of which are actually more popular than those offered by their larger counterparts.