“Apple Pay stands to gain from disarray at MCX, a consortium backed by major retailers, but Apple still needs to drive usage of its mobile wallet with better loyalty and rewards programs designed with merchants, says Goldman Sachs,” Reinhardt Krause reports for Investor’s Business Daily.
“With Best Buy in late April joining Apple Pay’s growing roster of merchant supporter, the MCX consortium appears to be ‘dealing with potential execution issues ahead of the launch’ of its CurrentC mobile wallet, says the Goldman Sachs report released Monday,” Krause reports. “‘Survey data suggests that only about 15% of iPhone 6 users have tried Apple Pay at least once, with repeat users only about 6% — implying roughly 1.6 million regular users at this stage,’ wrote Goldman Sachs analyst James Schneider. ‘Although the linkage between rewards programs and mobile payments adoption is still anecdotal, we believe the integration of loyalty and rewards programs will be an important driver for consumer adoption, especially for repeat usage.'”
Read more in the full article here.
MacDailyNews Take: Bring on the Apple Pay rewards! As soon as next month at WWDC?