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Apple to Lead Contactless Payments Market Over the Next 4 Years

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According to a new data by financial analytics firm Juniper Research, Apple is expected to dominate contactless payments market over the next 4 years, leading Samsung, Google and Others. The research predicts that the number of OEM-Pay contactless users, including Apple Pay, Samsung Pay, and Android Pay, will surpass 150 million by the end of this year.

Juniper

The research forecasts that the combined market share of Apple, Samsung, and Google in OEM-Pay market will rise to 56% by 2021, as the trio’s combined user base exceeds 500 million. It also reveals that Apple Pay, and the alternative wallets that have followed in its wake, are set to establish themselves as the primary contactless mechanisms of choice in the US. However, the challenge is to ensure that the infrastructure is in place for consumers to make in-store payments.

“We believe that as contactless usage gains traction and consumers/merchants recognise the speed and convenience it offers, then, as in European markets, there will be a further and significant increase in availability at the point-of-sale”, added research author Nitin Bhas. Indeed, according to Apple, the proportion of US retailers supporting Apple Pay rose from 4% in 2014 to 35% in late 2016.

To learn more about the research, hit up this link.

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  • Gary Bowen

    Nice. 9/10 of my payments are now Apple Pay (Calgary). Only thing holding me back are the merchants who have tap machines, but have tap turned off. These are mostly hospitality/restaurant places.

    Side note: I also just found you can tap several times at the grocery store if your bill is >$100. Just ask them to split the bill into segments <$100.

  • Many99

    Which grocery store was it

  • Gary Bowen

    Both Superstore and Co-Op. Haven’t tried it at Safeway yet. So far it seems, MasterCard accepts max of $100.00. AMEX accepts max of $99.99.

  • Many99

    Thanks

  • johnnygoodface

    When will they realize that Apple Pay is much safer then a card with a NIP? I dream of the day they will allow AP transactions to be much more than 100$

  • Brian W Pietrzyk

    Is it just me or is using apple pay a pain trying to get the phone to read your finger print? Its rare i get it to go through on the first try so I’m finding easier just to pull out my card more again now.

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