Despite Tim Cook’s slick presentation at the time, and the promises to revolutionize point-of-sale payments by replacing plastic cards, Apple Pay usage is almost as low as when it launched seven years ago, reports the latest PYMNTS survey.
Despite having much more iPhones that support Apple Pay around than when it launched, and way more compatible payment terminals in stores, only 6% of iPhone owners with activated Apple Pay use them to pay for stuff on a regular basis, compared to about 5% when the service hit the tape many moons ago.
Apple Pay is still on the store payment margins, 7 years after launch
The reasons? Well, it just isn’t as convenient or ubiquitous than the good ol’ plastic, especially with the advent of contactless ones. You still need an extra device to lug around with you, and extra steps to pay, so the majority of iPhone owners apparently don’t really bother except for the dedicated few.
