Half a billion iPhone users enabled Apple Pay: research

The activated Apple pay service users have grown from 441 million in September 2019 to a staggering 501 million in September 2020

iPhone Apple Pay

Half a billion iPhone users enabled Apple Pay: research. Source: shutterstock.com

It was just reported in a study by Loup Ventures which showed that over 66 million new iPhone users have now activated Apple pay on their iPhone over the span of just the past year.

According to the study, 51% of iPhone users are now using Apple pay, which was 48% in the previous year, showing a growth of net 3% in current Apple pay service users.

A net growing north total of 30% in number of Apple pay transactions during the duration of the past 6 months in 2020 has been found in the study. These stats were shown on the basis of fact that an estimated 9% net growth was seen in the number of total iPhone users, which jumped from 915 million to 1 billion in the span of 12 months.

Regarding the commercial acceptance of Apple pay globally, the study also reported that the total number of banks worldwide supporting Apple pay has now grown to 5840 and more than 20% increased adoption from banks and big retail outlets across desktop/mobile websites and apps.

But the total top retailers which are offering Apple pay on desktop stayed just under 30%, and the figures for mobile and applications were 40% and 43% respectively.

It should also be considered that in January of 2019, Apple announced in its annual Apple seminar that the Apple Pay service was now accepted in 74 out of the top 100 retailers in the US and its availability in all US locations claimed by Apple during that time was 65%.

We’ve reported that the App Store ecosystem supported $519 billion in billings and sales globally in 2019 alone.

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