“In this quarter’s field study, we decided to survey Millennials and Generation Z shoppers and ask them about their use of mobile payments, in particular emerging mobile payments technologies such as Apple Pay, Google Pay, as well as cryptocurrencies like Bitcoin,” Michael Quoc writes for Dealspotr. “We surveyed 1,000 people total – 500 Millennials (females and males aged 25 to 34) and 500 Generation Z (females and males aged 18 to 24).”
“Overall, we found a higher adoption of Apple Pay among young adults than we expected,” Quoc writes. “Apple Pay dominates in usage and interest / affinity among young adults per our survey… 15% across both demographics have used Apple Pay to pay for items online… 11% of Millennials and 10% of GenZers have used Apple Pay to pay for items in the checkout line. Apple Pay (10%) was significantly more popular than rival payment platforms Google Pay (4%) and Samsung Pay (2%).”
“We also asked how these groups send money to friends and family. PayPal and Venmo remain the leading options here, while Square Cash is the leading emerging platform,” Quoc writes. “Millennials have the highest interest in using Google Wallet, followed by Apple’s new Pay Cash platform for sending money to friends. Generation Z showed the highest preference to use Apple Pay Cash.”
Read more in the full article here.
MacDailyNews Take: It won’t be long before Apple Pay Cash assumes the top spot among person-to-person payments, too.
Apple Pay Cash international roll out begins – February 23, 2018
Apple Pay users more than double globally, but only 16% of iPhone users have activated Apple Pay – February 22, 2018
Apple Pay now accepted in 50 percent of U.S. stores and is the world’s most accepted contactless payment system – January 31, 2018
watchOS 4.2 delivers Apple Pay Cash to Apple Watch – December 5, 2017
Apple Pay now in 20 countries, takes 90% of all contactless payments where active – October 24, 2017
Apple Pay is proliferating, and the banks are scared – October 18, 2017
Apple Pay likely to get boost from Visa and Mastercard mandating contactless payment terminals – August 21, 2017
Apple Pay usage estimated to rise sharply in United States due to frustration with slow Chip-and-PIN cards – August 21, 2017
[Attribution: 9to5Mac. Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]