Apple Pay dominates mobile wallet market

Apple Pay dominates mobile wallet market
According to Juniper, a digital market research firm, contactless payments are on the rise globally. The amount of money paid via this method is set to double by 2020 and is already set to pass $1 trillion USD this year. It is important to note that this entire amount is not attributed to mobile wallet systems like Google Pay, but includes contactless card payments as well. As a matter of fact, contactless cards make up 55 percent of the market share globally. While contactless transactions are projected to reach $2 trillion by 2020, $300 billion of that total will be accomplished through mobile wallet payments. 


Surprisingly, Apple Pay dominates this area.


According to the research, OEM payment services such as Apple Pay, Samsung Pay, Google Pay and others control a vast amount of the mobile wallet arena. Registered OEM mobile wallet users are set to reach 450 million by 2020. Although Android is the dominant OS globally, Apple Pay users will account for 50 percent of all mobile wallet subscribers. So while more people are currently using Android, iOS users appear to be more inclined to register a mobile wallet account. Since contactless payments are rapidly rising throughout the world, OEM payment services are likely to play an important role going forward. With eBay welcoming Apple Pay as well, it seems the service is certainly paying off for the tech giant. 

source: Businesswire
image credit: idownloadblog

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16 Comments

1. RoboticEngi

Posts: 1250; Member since: Dec 03, 2014

Well do you think that this has something to do with Google pay, Samsung pay and others are stupidly slow in spreading out through the world? If Google would support as many countries as apple, then the numbers would be way different. In my country we only got apple pay so far. But that is Google in a nutshell, only supporting 5-6 countries. Then the rest of us can go f**k ourselves......

4. midan

Posts: 2469; Member since: Oct 09, 2017

"Well do you think that this has something to do with Google pay, Samsung pay and others are stupidly slow in spreading out through the world? " It is because there's many different choices in Android world and no marketing, most of people don't even know If they phone are capable of that. When my friends see me using Apple Pay they say, well that was easy and are wondering do they have same function with their Android phones and i say i have no idea. Also google had huge head start with this, they just couldn't sell the feature for their users (not surprised) "If Google would support as many countries as apple, then the numbers would be way different" very likely not much a difference, again marketing

8. Tech-shake

Posts: 202; Member since: Nov 14, 2016

In UAE we got Samsung almost one year before Apple Pay yet I rarely saw an ad for it and all store employees don’t even know whether their machines support it or not. Just 7 months ago we got Apple Pay and the ads are plastered every where, store employees always ask whether you want to use Apple Pay or card. Apple is best at marketing and getting people to know of their products!

10. midan

Posts: 2469; Member since: Oct 09, 2017

"Apple is best at marketing and getting people to know of their products!" Exactly and like you said companies also helping with that because they know they will win customers too.

16. strategic_developer

Posts: 1627; Member since: Jul 17, 2018

I agree that advertising and marketing is a big deal. When a retailer in the US starts to support Apple Pay, they have huge banners saying that they do. McDonald's does have the Apple Pay and Samsung Pay and the Android Pay symbols on their doors, but I seriously doubt people actually pay attention. Samsung and Google certainly need to run more TV ads, and whichever retailer supports the system, they should make sure there is a vivid banner or sign that says so. Just Sunday one of my friends left CC's at home. And he has an iPhone 6 and I asked him, don't you use Apple Pay? And he was like, what's that. And I showed him and he was like, oh that's what that's for? He thought it was only for buying stuff from Apple Store or the App Store. Once mobile pay is more mainstream, it will catch on. I believe Apple could only get the advantage if, NFC takes off because Apple has the most banks. But Google and Samsung have the biggest banks. I think what would have helped is, if Visa and Mastercard just made a general tokenization kit that works with any VISA or MC. But according to what I read, each bank has to pay to have its own master token for mobile payments which is expensive, because they have to do it for each card they have to support. And small bankes rarely do it because of cost.

11. Macready

Posts: 1792; Member since: Dec 08, 2014

Apple Pay has yet to rollout in many European countries (many years after official introduction) where Android Pay has worked for years. And even here in the US I lost count how often I am told at checkout that they don't support Apple Pay... after which I happily use Samsung Pay and am met with the shocked reaction of a cashier "wow, that's so cool!". It's just an awareness thing. Apple has a stronger mouth to mouth and advertising force pushing their digital wallet. Oh and they take a lot more cash per transaction (fees) , to drive revenues from those transactions... A strong incentive for making its users use it.

15. strategic_developer

Posts: 1627; Member since: Jul 17, 2018

It takes time to setup tokenization with banks to get them onboard. Samsung Pay has an advantage in the US, because it works even without NFC. I think the biggest issue with mobile pay is, people don't know when it will or won't work and just feel better just always using the card. All the places I frequent all have worked with Samsung pay with zero issue. Sam's Club was the only retailer where it use to work, and then they did a system wide update to prevent mobile pays from working.

2. mootu

Posts: 1319; Member since: Mar 16, 2017

Apple pay does not dominate this area, The article says it will be set to pass $1 trillion USD this year. That is already dwarfed by China's Alipay and Wechat pay who last year totaled US $12.77 trillion and is rapidly rising as China moves towards a cashless society.

9. Matthew_Mills

Posts: 21; Member since: Apr 08, 2018

The research was looking at contactless card transactions. The figures for we chat and the like include money transfers and other online end to end transactions.

17. iPhoneFanboy

Posts: 286; Member since: Apr 21, 2018

You might want to reeducate yourself in those numbers and how they were achieved.

3. midan

Posts: 2469; Member since: Oct 09, 2017

Apple Pay been real game changer, i now use my credit card like once a month etc. It works so beautifully, they just need to get new countries faster, but i understand big changes like this takes time to go well.

5. EvilAPi

Posts: 114; Member since: Sep 25, 2017

Well... Not every Android smartphones have NFC... But Apple did, starts from iPhone 6. And another reason is lots of Android users are not recognize about contactless payments, such as 3rd world country, which supports either Samsung Pay, Apple Pay, or Google Pay. Malaysia is the best example. I traveled to the country and discovered the situation.

6. cmdacos

Posts: 3739; Member since: Nov 01, 2016

"Registered OEM mobile wallet users are set to reach 450 million by 2020. Although Android is the dominant OS globally, Apple Pay users account for 50 percent of all mobile wallet subscribers." This isn't what the source document says. It eludes to a PREDICTION that apple pay will be 1 in 2 mobile payments by 2020 due to North American domination in growth and usage...

7. Matthew_Mills

Posts: 21; Member since: Apr 08, 2018

It should have said will. The adjustment was made thanks.

12. lyndon420

Posts: 6365; Member since: Jul 11, 2012

Not ready for a cashless society, so I still use cash whenever possible.

14. strategic_developer

Posts: 1627; Member since: Jul 17, 2018

How can Apple dominate this, when they have the least support? Google Pay/Android Pay are terrible too. 90% or retailers in the US don't support NFC. Which makes Apple Pay and Android Pay totally useless vs Samsung Pay. Can't speak for Europe which is mostly NFC. But many retailers are converting. McDonald's has converted all its locations to support all mobile pay system and Foot Locker is in the middle of doing the same.

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