According to a new study, apple pay had been activated on 507 million iPhones as of September, with adoption by retailers and banks up 20% year-on-year.The fourth year of Apple's research on the availability and payment of lotus was used to track the growth of the platform. Loup ventures conducted similar studies in 2018 and 2019.
Compared with the same period last year, Loup ventures estimated 507 millioniPhoneUsers activated Apple pay, up from 441 million in September 2019. This represents an estimated annual growth rate of 15%, partly due to an increase in contactless payments during the coronavirus pandemic.
A new adoption rate statistic means that 51% of apple's total iPhone users already have a payout. Loup Ventures Gene Munster also noted that user growth statistics did not cover Apple Pay transaction data, which he estimated
According to the data, about 40% of top retailers provide Apple pay on the desktop, 39% on the mobile end, and 43% on IOS applications. The growth rate of mobile terminal was the fastest, reaching 39%, while that of desktop was 22% and IOS application was 20%.
Loup ventures also noted that banks continue to adopt Apple's payment platform rapidly. As of September 2020, 5480 banks around the world supported Apple pay, up 29% from 4250 in the previous year.
While Loup ventures says it no longer tracks in store applications, it estimates that 95 of the top 100 U.S. retailers and 85% of the nation's retailers now accept Apple pay.
Apple didn't reveal much about Apple Pay. On the company's September quarterly earnings conference call, Apple CEO Tim Cook (Tim Cook) said only,