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Apple Pay on the Rise

Apple launched its mobile payment service in October 2014 and today it is available on many of its devices: phones, tablets and watches.

We looked at our panel of transactions from over 3 million payment cards to learn more about the adoption of Apple Pay by consumers. For some of the card issuing banks, we are able to distinguish payments made with Apple Pay from other payments.

Overall, Apple Pay usage has been growing steadily over the last year (2016):

The number of monthly Apple Pay transactions grew by 50% between 12/2015 and 12/2016 .

We also looked at what merchants attracted the highest proportion of Apple Pay transactions out of the total volume of credit card transactions:

Not surprisingly, popular mobile apps and websites are atop the chart, with just-in-time lodging app HotelTonight and food delivery services Caviar, Postmates and DoorDash leading the way. Boxed.com has the highest adoption of all retailers.

And which are the brick-and-mortar businesses having the largest proportion of credit card transactions using Apple Pay?

Duane Reade and Whole Foods, both live with Apple Pay since it launched in 2014, are way ahead of their brick-and-mortar brethren.

Finally, let's take a look at popular retail websites having the highest share of Apple Pay transactions out of all credit card transactions:

In conclusion, Apply Pay had strong growth in 2016, but still accounts for a fairly small percent of all credit card transactions, leaving lots of room for further growth. The businesses with fastest Apply Pay adoption are unsurprisingly apps and websites popular on Apple mobile devices.

Learn more about consumer spending analytics with TXN.