Apple Pay was launched in the market, first in the United States in 2014 and gradually it left expand to more countries. It is currently available in virtually all European countries, however, it seems that Latin America continues to be the area that for Apple is not a priority to launch its payment platform.
A payment platform that in the US has very low usage despite being on the market for 7 years. At least according to the survey data from the guys at PYMNTS. According to this report, 94% of users who have set up Apple Pay on their iPhone don’t use it
In the PYMNTS report we can read:
Seven years after its launch, new data from PYMNTS shows that 93.9% of consumers with Apple Pay enabled on their iPhones don’t use it in stores to pay for their purchases. This means that only 6.1% do.
The company obtained this data from a survey of 3,671 American consumers conducted from August 3 to 7, 2021. In 2015, Apple Pay usage, after the platform had been on the market for a year, was 5.1%, virtually the same as in 2019.
According to this same study, only 43.5% of users have Apple Pay compatible devices and 70% of merchants accept this payment method, so it is not a problem of expansion and adoption by merchants, but a lack of interest. It’s not all bad news. PYMNTS reports that among users who make digital payments, 45.5% use Apple Pay, ranking above PayPal, Google Pay, and Samsung Pay.
Due to the low interest of US users in this payment method, Apple is considering launching Apple Pay Later, a service that allows customers to pay for purchases or services in installments, a service that we have been talking about for several months but which for the moment seems to be parked.