Published in Mobiles

Apple Pay stalls

by on27 October 2015

So much for ruling the world

The fruity cargo cult Apple’s attempts to dominate the mobile payments industry appear to have stalled.

After convincing Europe’s banks that they needed to sign up for the deal and a campaign in the Tame Apple Press to shame banks that didn’t move quick enough, it appears that Apple fanboys can’t be bothered with the service after all.

Phoenix Marketing International said at a payments conference in Las Vegas said that just 14 percent of US households with credit cards had signed up for the payment option.
Greg Weed, director of card performance research at Phoenix said that there was a rapid initial threshold was achieved by Apple Pay but the growth rate has slowed down.

The figures fly in the fast of Apple’s own which have been that there has been a "double digit monthly growth in Apple Pay transactions" since its launch.

Among Apple Pay users, 86 percent have linked their credit cards to make a purchase, 49 percent consumers use their debit cards and 22 percent use different types of prepaid cards, the report showed.

But there are signs of heavy competition in the market from other phone makers and the stores themselves. Analysts said that it was only a matter of time before people figured out that taking their phone out of their pocket and running the app to carry out the purchase was trickier than pulling out a card from their wallet. In short it was unnecessary use of technology.

Last modified on 27 October 2015
Rate this item
(3 votes)

Read more about: