Since Apple launched Apple Pay in the U.S. in October 2014, its use has steadily grown. Today, an estimated 130.1 million individuals use an iPhone at least once per month in the U.S. Roughly three in four U.S. iPhone users have activated Apple Pay. And an estimated 55.8 million U.S. consumers made an in-store payment using Apple Pay in April 2023, accounting for nearly half of iOS users.
This means that Apple Pay is a viable contender in the way consumers make payments. For merchants who want to offer shoppers payment methods that are convenient, secure and based on their preference, Apple Pay is one option merchants should know about.
Apple Pay is a mobile payment and digital wallet service by Apple that allows people to make payments using their Apple devices, including iPhones, iPads, Apple Watches and Macs. Apple Pay is powered by near-field communication (NFC) technology to enable secure, contactless payments at point-of-sale terminals in physical stores. It also supports online and in-app purchases, providing a seamless and secure payment experience by utilizing Face ID, Touch ID, or a passcode for authentication.
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