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Apple Pay struggles laid bare in new report

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Slow take up of mobile payment outside US to blame.
Apple Pay reader

Apple Pay is struggling to gain traction outside the United States, with the mobile payment system failing to capture the imagination in the UK, Australia and China.

Statistics from researchers at Timetric show that Apple Pay accounted for $10.9 billion in contactless transactions in the past year, of which the ‘vast majority’ were made in the US.

Worryingly for Apple that figure is lower than the number of mobile payments made in Kenya, which has led the way with in making transactions using phones.

According to one analyst, Apple Pay's inability to move into the mainstream here in the UK is due to the prevalence of contactless cards.

A total of $14 billion was spent using contactless in 2015, with that figure expected to rise this year.

“You have over 86 million contactless cards in circulation. [So] you have to persuade Britons to register their cards to [Apple Pay] when they can already use them to make a contactless payment,” said Windsor Holden of Juniper Research.

In Australia, Apple is said to have faced technical difficulties in some retail outlets, while China’s booming mobile payments industry has meant it has struggled to compete with the likes of WeChat and Alibaba.

Apple Vice President Jennifer Bailey said: “Like any set of major technology changes, it takes time.

"We want to move as quickly as possible, we push it as quickly as possible."

Source:

Reuters

Category: News
Tagged: iphone, apple, iphone 7

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