Based on the 18th annual POS/Customer Engagement Survey by Boston Retail Partners (BRP), 36% of retailers accept Apple Pay. PayPal held the 1st place in 2016, and this year, took the 2nd place with 34% of retailers accepting the payment method.
Apple Pay and Other Payment Options
According to Boston Retail Partners, Apple Pay has the largest percentage of supporting US merchants, which is up from 16% in 2016. Then come other payment methods such as:
Mastercard PayPass (25%)
Android Pay (24%)
Visa Checkout (20%)
Samsung Pay (18%)
Chase Pay (11%)
Some are mainly online, while others are mainly in stores. Most of those operating in-store are planning to offer online functionality to allow for mobile payments to be available through browsers or apps.
Another 22% percent of retailers are planning to offer Apple Pay in the next 12 months. 11% are planning to do the same within the next 1-3 years, and for another 31%, time will show.
Modern Payments Market
Today’s modern market offers a number of mobile wallets and payment apps and keeps evolving. As BRP notes, in 2016, merchant-backed CurrentC stopped operating and Walmart Pay gained popularity. According to BRP, the success of any mobile payment is based on education. Mobile payments or mobile wallets can succeed if there is further education at the point of sale (POS).
Alternative online payment processors have become highly popular in the recent years. To get a reliable high risk merchant account, consider turning to emerchantbroker.com, the top high risk processor in the US. EMB knows your high risk business best of all and can get you a secure and low-cost merchant account without challenges.
Apple Pay has recently been launched across Ireland with support from Mastercard, Visa, KBC and Ulster Bank. Customers get an opportunity to complete in-store, online and in-app payments through their compatible devices.
Apple Pay will also work with German payment processor Wirecard’s Boon service. Users, who are not customers of a specific bank, will be able to add a virtual Boon card to Apple Pay to fund purchases at the tens of thousands of supporting retailers throughout the country.