Apple Pay accounts for half of OEM pay users

Apple Pay currently accounts for roughly half of the 440 million device-based mobile contactless payment users worldwide, according to Juniper Research.

There are currently around 241 million OEM mobile wallet users worldwide and around 440 million total mobile contactless payment users, the research firm said. This is expected to increase to 449 million and 760 million respectively by 2020.

Apple Pay has around 140 million users, making it by far the most used OEM mobile wallet. Samsung Pay is solidly in second place at 51 million, compared to 39 million for Google Pay.

But by 2020, Samsung Pay and Google Pay are expected to be neck and neck with around 100 million users each, with Apple Pay having 227 million users.

Other OEM pay providers include China's Huawei Pay and Xiaomi Pay, as well as Fitbit Pay and Google Pay. These providers collectively account for 11 million users, and this is expected to double to 22 million by 2020.

Total contactless payment transactions, including payment cards, mobile and wearable device payments, are expected to reach US$1 trillion this year, according to Juniper Research analyst Nitin Bhas.

“With contactless payments becoming the norm in many global markets, the attendant payment infrastructure is also becoming well established. Indeed, in markets such as Europe, contactless payments are becoming the preferred method of in-store payments,” Bhas said.

Image credit: ©iStockphoto.com/Oleksiy Mark

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