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HomeeCommerce NewsApple Pay captures the market of digital payments

Apple Pay captures the market of digital payments

Apple launches Apple Pay today. The project is an ambitious vision to change the digital payments industry. Apple pay will be strict on payment mobility and security.

This project is revolutionizing ideas. The company promises to replace cards at the point of sale with digitally enabled wallets. These wallets will be in their Apple phones, better called i-Phone. Apple pay thus will be a convenient option for everyone.

The reports suggest that more than three-quarters of almost all retailers in the United States will accept payment through Apple Pay. Now before this comes the question of iPhone users. So nearly half of the mobile users in the United States are iPhone users.

To conduct a conclusive study, Analysts conduct many surveys among smartphone users. The criteria for the in-store transaction and other payment references are also in consideration.

The conclusion in all surveys comes out that Apple Pay has a lead over all other mobile wallets in most in-store payments in the United States. However, its share of all in-store transactions remains comparatively low and negligible.

In the third quarter of 2022, it captures nearly 44% of all in-store mobile wallet transactions. Thus it becomes the dominant player in the market. In this race, Google pay secures 15% of transactions in mobile wallet checkouts.

Another interesting finding of the project is that the trendsetters account for 9.3% of Apple Pay users in-store. The consumers are mostly from a high-income section of people. They are mostly people older than the middle-aged population.

The best point for the service providers is that the product is a preferred choice for more than half of the population. On top of that, Apple Pay enjoys the trust of all sections and age groups of people.

Tech-connected consumers use this app for 3.5% of their in-person transactions. The company currently explores the features that are receiving good responses in the market.

It is surely one of the highest grocers. The project is receiving good responses among all three age groups of people.

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