Merchants Eager to Adopt Apple Pay in the US, Survey Reveals

Apple pay

Apple Pay is the preferred way to pay in-store (where contactless payments are accepted), according to a survey conducted in the US by investment firm Piper Jaffray, as spotted by AppleInsider.

The firm polled 507 value-added sellers and independent software vendors and found that 44% of their point-of-sale merchant customers are using or have requested more information about contactless terminals.

Of those interested in NFC-equipped terminals, 67% want to support Apple Pay. Android Pay and Google Wallet ranks second, and in third place in popularity among merchants is PayPal, grabbing 8%. Samsung Pay stirred the interest of only 7% of merchants.

The news comes following a Bloomberg report citing a mobile payment researcher firm Crone Consulting LLC, which found that Apple Pay has attracted 12 million monthly users globally since its launch in October 2014.

“We believe it is telling that PayPal, who has been the leader in digital payments, so significantly under-indexed Apple Pay and Android Pay,” analyst Gene Munster wrote in a note to investors. “Apple Pay’s significance is an engagement tool, which longer term is a must-have for any successful phone as cash slowly goes away,” Munster said.

Samsung Pay launched last August in South Korea, followed by a US expansion, and Samsung says it has attracted 5 million users globally and processed more than $500 million in transactions since last September (when it launched in the US). Android Pay matches Samsung Pay’s 5 million monthly users, Crone Consulting says.