Retailers Prefer Apple Inc. (AAPL)’s Apple Pay As SAMSUNG ELECT LTD(F) (ADR) (SSNLF) Pay Struggles
It was thumps up for Apple Inc. (NASDAQ:AAPL) as far as its Apple Pay performance was concerned among the retailers. Since its launch in October 2014, seventeen months have past, and it was enjoying a comfortable lead over the rivals in the mobile wallets market. Piper Jaffray report indicated that most retailers prefer Apple Pay as oppposed to SAMSUNG ELECT LTD(F) (ADR) (OTCMKTS:SSNLF)’s Samsung Pay or Alphabet Inc (NASDAQ:GOOGL)’s Android Pay or Google Wallet. Its report further indicated that 44% of the retailers in the America have either been using or have expressed their interest in using the mobile wallet in their future purchases.
Significant Lead For Apple Pay
According to the report, 67% of the retailer selected to use Apple Inc. (NASDAQ:AAPL)’s Apple Pay indicating that two-third of the people’s preferred it. On other hand, SAMSUNG ELECT LTD(F) (ADR) (OTCMKTS:SSNLF), which is a leader in the smartphone category, could manage only 7% of the retailers preference for its Samsung Pay. Similarly, Alphabet Inc (NASDAQ:GOOGL)’s Android Pay and Google Wallet enjoyed 18% each among the retailers’ choice. The head start and the strong brand name have enabled the iPhone maker’s mobile payment app to continue to lead the space and helped to boost in-store sales with the help of its mobile devices.
The report suggested that the service has helped to boost conversion rates apart from enabling the users to checkout from their mobile retail apps. According to Business Insider, if most of the retailers have reported an increase in mobile commerce, it was because of Apple Pay. For instance, Staples, Inc. (NASDAQ:SPLS) indicated that its checkout times were 35 second quicker on its mobile app because of Apple Pay compared to the manually entering card information. Similarly, Instacart customers could checkout 58% quicker whereas JackThreads indicated that among its customers who use Apple Pay, 92% of them were likely to have completed a transaction.
Users See The Benefits
If Apple Inc. (NASDAQ:AAPL)’s Apple Pay or Alphabet Inc (NASDAQ:GOOGL)’s Android Pay or Google Wallet or SAMSUNG ELECT LTD(F) (ADR) (OTCMKTS:SSNLF)’s Samsung Pay gained traction, it was because the users have started seeing the gains. That was more clear during the recent holiday season sales. It was because of the convenience, as well as, the speed of those services that changed the way consumers pay for the good they purchased.
The success of Apple Inc. (NASDAQ:AAPL)’s Apple Pay has made some analysts from Business Insiders to probe further into the future scenario. Their research found that the current year would be a turning point as far as the payments industry is concerned. The key takeaways from the report said that the payment firms were expanding their mobile offerings while enhancing the security and create capabilities to provide its users a more compelling reason to use the device to make purchases. The BI analysts also warned that alternative technologies might have the potential to disrupt the processing ecosystem.
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