Apple Pay Usage Statistics: How Many People Use Apple Pay in 2023?
Apple Pay, the popular mobile payment service, has gained significant traction recently.
With its convenience, security, and widespread acceptance, it’s no wonder that more and more people are turning to Apple Pay as their preferred payment method.
In this comprehensive article, we’ll delve into the latest Apple Pay usage statistics to answer the question: how many people use Apple Pay in 2023?
Overview of Apple Pay Usage
The number of Apple Pay users will reach 55.8 million in 2023. This represents a 9.8% annual increase from the previous year.
This constitutes approximately 19.8% of the overall population in the United States. One out of every five consumers in the US uses Apple Pay at least once a month.
The growth of Apple Pay usage will continue to climb, albeit at a slightly slower rate.
Research data indicates that by 2026, the US will boast 67 million Apple Pay users, constituting 23.3% of the population.
Apple Pay’s popularity varies among different demographics. Recent research indicates that millennials and Gen Z consumers are more likely to embrace digital payment methods, with Gen Z consumers showing the highest usage of Apple Pay.
Moreover, over 85% of US retailers accept Apple Pay, ensuring widespread availability of this payment option for consumers.
Global Adoption of Apple Pay
Apple Pay has achieved significant global adoption, with an estimated 507 million users worldwide. This user base accounts for approximately 9% of all mobile wallet users.
Apple Pay use in the UK surpasses the US and Canada, especially for in-store payments. The service gains traction globally.
Additionally, Apple Pay dominates the US mobile payment market, with a market share of over 90%.
Factors Driving Apple Pay Adoption
Several factors have contributed to the increasing popularity of Apple Pay. The rise of contactless payments, accelerated by the COVID-19 pandemic, has led to a surge in Apple Pay activations.
In 2020 alone, approximately 65 million more people will activate Apple Pay, recognizing the convenience and safety of contactless transactions.
This trend will continue as more individuals seek secure and contactless payment options.
Its seamless integration with Apple devices has significantly contributed to the success of Apple Pay.
In 2021, about 24% of iPhone users purchased with Apple Pay, emphasizing its convenience and accessibility.
Apple Pay’s wide acceptance by merchants, including 52% in North America, fuels its growing adoption.
In conclusion, Apple Pay has emerged as one of the most popular mobile payment services.
We project a steady increase in Apple Pay users, with millions of people in the US and worldwide embracing this convenient and secure payment choice.
As Apple Pay continues to shape the payment industry, businesses should consider integrating it into their payment methods to cater to consumers’ evolving preferences.
Apple Pay owes its success to its seamless integration with Apple devices, increasing adoption by merchants, and the surge in contactless payments.
As more individuals embrace the convenience and security of mobile payments, Apple Pay will likely remain at the forefront of this transformative shift in how we pay for goods and services.
So, whether you’re an iPhone user looking for a convenient payment option or a business owner seeking to meet the evolving demands of your customers, Apple Pay is a reliable and popular choice.