Apple Inc. (AAPL): Apple Pay Driving More In App Purchases For Staples, Inc. (SPLS)


Apple Pay

Apple Pay

Apple Inc. (NASDAQ:AAPL)’s Apple Pay platform is gaining traction among users. While in-store purchases get all the attention, the latest data shows that a major retailer is seeing more traction from in-app purchases then in-store purchases.

Staples Confirmation

In most circles, the technology firm’s in-app purchasing ability was eclipsed by the physical iPhone-driven NFC counterpart. However, in the case of Staples, Inc. (NASDAQ:SPLS), Apple’s Pay feature was the most well-liked system of payment processed by the iOS app. In a panel of discussion conducted on Tuesday, Staples’ VP of mobile commerce, Prat Vermana, said that the payment system represented 30% of the purchases made from the retailer’s iOS app.

In November, Staples was among the first wave of retailers in the United States to accept Apple Inc. (NASDAQ:AAPL)’s Apple Pay following NFC support in 1,400 locations. Vermana went on to add that Apple Pay was the number one system for the company in its iOS apps currently.

First Time Customers

The Staples’ VP has also termed Apple’s Pay as the most successful execution as far as payment options are concerned. This was not only an effective type of mobile payment, but also a growth driver for the office product supplier. This became evident when 65% of the transactions originated from the users of Apple Pay were found to be the first time customers of Staples.

Users of the app were divided among Android and iOS. However, Staples said that 70% of mobile revenue came from the owners of Apple Inc. (NASDAQ:AAPL) devices. Staples could not comment as far as the physical purchases from iPhone. Vermana said that Apple Pay was not one of the top 3 in store payment methods and has had slower adoption in stores.

Nonetheless he commented that it had overtaken everything else on mobile quickly.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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