And that’s not taking into consideration iPhone 6 Plus owners.
Based on a survey done by InfoScout and PYMNTS, only 6 percent of iPhone 6 owners have used Apple Pay since the service was launched six months ago. Additionally, around 9 percent of iPhone 6 users have tinkered with the service, but haven’t actually used it. As for all iPhone owners who have access to Apple Pay, a whopping 85 percent have not used it.
VentureBeat reports that the study discovered two reasons for this slow adoption rate.
One, the owners are content with the current payment method/s they are using.
Two, the owners don’t really understand how Apple Pay works.
With all the fuss about security breaches, it is surprising that it wasn’t a major consideration for people. In fact, those who use Apple Pay are quite content with how secure the system is.
There is also some positive data coming out of the study, as “30 percent of people who have used Apple Pay make decisions about what stores they visit based on whether or not those stores have Apple Pay”.
This means that, while only a small number of people use Apple Pay, the service plays a crucial role in the mindset of a consumer. If Apple Pay adoption rises, stores will have to offer Apple Pay if they want to get those consumers.
We’ve heard this story before. Apple launches something new. It doesn’t immediately catch on, but some time later, it becomes the life-changing thing. Apple can only hope that this will be the case with Apple Pay as well.
Are you using Apple Pay? What is your verdict?
Where Apple Pay is available it is great but areas like Wal-Greens make it very inconvenient. When you pay with Apple Pay it is not place your phone on the reader and then it is done. You have to press that you agree with the total amount displayed , also whether you need cash back or not and then you have to physically sign if the amount is above a certain threshold. Really inconvenient. It is easier to pull out my credit card in this situation. I can see why the roll out is extremely slow for Apple Pay. Apple is not the culprit but the retails are the weakest links.
No real advantage using it. iPhone costs you a grand with no contract. Apple has increased the costs of apps and now they want you to use your phone as a credit card. When is Apple going to start giving back.
Spoken by a true Apple product hater. If you don’t have an iPhone, much less an iPhone 6, then you’re not part of study. I have an iPhone 6 and use it everywhere I can. My problem is the lack of of businesses capable of either handling NFC, just haven’t figured out how to turn it on, or turn it off by choice. I continue to see way too many businesses still using non-chip terminals as well. These will have to be replaced by Oct 2015 or the businesses will have to accept all credit card fraud losses. I can see an 85% apathy rate when I talk to cashiers about Apple Pay. Even when I can use it at Home Depot and a cashier is amazed at what I did, it simply shows retailers are not pushing anything other than their antiquated plastic usage. Saying Apple Pay is a failure is like saying credit cards are a failure simply because people still use cash to pay for things (and more have gone back to cash because of all the cyber attacks on business systems).
If only 6% of iPhone users are using Apple Pay and Apple Pay is the dominant NFC payment method, then Apple Pay has a FANTASTIC FUTURE! This means there is enormous room to grow and dominate NFC payments.