Apple Pay growth slows a year after launch
- 9 years ago
Apple Inc's mobile wallet Apple Pay is winning over more U.S. households a year after its launch, but growth has slowed, research released on Monday showed.
Fourteen percent of U.S. households with credit cards had signed up for the payment option by the end of September, up from 11 percent in February, Phoenix Marketing International said at a payments conference in Las Vegas.
"A very rapid initial threshold was achieved by Apple Pay and it is still growing but the growth rate has slowed down," said Greg Weed, director of card performance research at Phoenix.
An Apple spokeswoman declined to comment, but noted that a company statement in early October cited "double digit monthly growth in Apple Pay transactions" since its launch.
Fourteen percent of U.S. households with credit cards had signed up for the payment option by the end of September, up from 11 percent in February, Phoenix Marketing International said at a payments conference in Las Vegas.
"A very rapid initial threshold was achieved by Apple Pay and it is still growing but the growth rate has slowed down," said Greg Weed, director of card performance research at Phoenix.
An Apple spokeswoman declined to comment, but noted that a company statement in early October cited "double digit monthly growth in Apple Pay transactions" since its launch.