News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

Apple Pay Surges Past PayPal as Most Popular In-Store/Online Mobile Payment Option: Report

Apple Pay Surges Past PayPal as Most Popular In-Store/Online Mobile Payment Option: Report

As mobile wallets continue to blur the lines between in-store and online payments, Apple Pay is taking the lead when both are considered, according to a new report. In its 18th annual POS/Customer Engagement Survey, Boston Retail Partners found 36 percent of retailers accept Apple Pay, bumping PayPal, which took the top spot last year, down to second with 34 percent of retailers reporting they accept the payment method. Mastercard PayPass (25 percent), Android Pay (24 percent), Visa Checkout (20 percent), Samsung Pay (18 percent) and Chase Pay (11 percent)—other mobile wallets gaining in popularity—are an interesting mix of payment methods. Some are principally online, while others are principally in stores, although most of those have plans to offer online functionality enabling mobile payments through browsers or apps.

Another 22 percent of retailers said they plan to offer Apple Pay in the next 12 months. Twenty-one percent said that about PayPal and 18 percent plan to offer Android Pay in the same time frame.

“In the past year, we have seen the demise of the merchant-backed CurrentC and the rise of Walmart Pay,” the report said. “While adoption had generally been slow, this year we saw a big jump in adoption of some of these mobile payment options. This is yet another way to personalize and enhance the customer shopping experience by bundling loyalty and other features with a branded mobile payment app. These digital possibilities, along with mobility, have modified consumer expectations and behaviors, and retailers must transform to succeed.”