As contactless instore purchases become more the standard, experts are predicting Apple will take the lead.
In the not-too-distant future, among debit, credit, and mobile transaction (like Google Pay and Samsung Pay) 50% of contactless device purchases will be Apple, according to Juniper Research.
Due to Apple Pay’s wallet being included with iPhone manufactured devices, there’s no extra step of adding a third-party app for transactions.
With every tech brand and their dog offering pay services, such as Fitbit Pay and Huawei Pay, these non-Apple ventures are unlikely to garner much of the market.
According to Juniper Research, OEM (original equipment manufacturer) wallets, like Apple Pay, will account for over $300 billion in store transactions.
Contactless banking and credit cards will still take up the vast majority of the market, with OEM accounting for roughly 15% overall but that is still a significant number.
What’s also raised eyebrows is that Android-based smartphones currently dominate the world market, yet Apple pay remains prevalent. Regardless of device, it seems people want to keep their loot with the fruit.
Do you use Apple Pay on a non-Apple device? Are you surprised at the predicted market penetration of OEM wallets?