Dive Brief:
- Some 45% of smartphone users who plan to use mobile payment apps in the next 90 days will use Apple Pay, according to a new study from 451 Research, while 28% will use PayPal.
- One-quarter (25%) of smartphone owners surveyed in March say they are "very likely" or "somewhat likely" to use a mobile payment app in in the next three months.
- Security is still the top concern among users of mobile wallets, with 84% of those surveyed rating it the most important feature in a mobile payment app.
Dive Insight:
Planned use of Apple Pay has been growing since it debuted six months ago, says a survey conducted last month by New York-based IT firm 451 Research, with 45% of likely users of mobile wallets naming it the system they will use, up from 40% in December 2014. PayPal was second with 28%, down 4% from the previous survey.
Two-thirds (66%) of users say they are “very satisfied” with Apple Pay, the survey says, compared to only 45% of PayPal users and 33% of Google Wallet users. What’s more, people using Apple devices are more than twice as likely to use mobile payment apps than those with Android OS smartphones. But interest in the forthcoming Samsung Pay mobile wallet reached 25% among current Samsung smartphone owners, indicating that Apple Pay is creating a rising tide that will lift all boats.
“The introduction of Apple Pay has catalyzed a wave of strategic moves across the mobile payments ecosystem,” said Jordan McKee, 451 Research’s Senior Mobile Payments Analyst in a release. “Moving forward, the pace of activity will only accelerate as vendors look to capitalize on the growing contactless payments infrastructure and secure a foothold in this rapidly evolving sector.”