A new report from Loup Ventures estimates that only 16% of global iPhone users have turned on Apple Pay. That leaves Apple with plenty of room to grow the service over the next 3-5 years.Active users have doubled in the past year, transactions have tripled and online merchant adoption has increased by about 50%, according to Loup.
Here's some highlights from the report:
● We checked the Top 100 retailers in the U.S. for Apple Pay compatibility for online (desktop, mobile and apps) and found the growth of adoption has been high (9 to 85%), but off of a small base.
● The total number of these retailers supporting Apple Pay online now ranges between 14-24% (details in table below).
● The number of banks globally that support Apple Pay increased in the past year by 41% to 2707 banks.
● We believe there are 127m global active Apple Pay users, up from 62m a year ago. This represents 16% of the active iPhone base.
● We don’t have any data on Apple Pay peer-to-peer (Venmo competitor), which launched in December of 2017.
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