Apple Pay now active on 507M iPhones, bank and retailer adoption grows 20%

in General Discussion
Apple Pay has been activated on 507 million iPhones as of September as year-over-year retailer and bank adoption growth hit 20%, according to a new study.

Credit: Apple
Credit: Apple

That data comes from Loup Ventures' fourth annual Apple Pay availability study, which tracks growth and adoption of the Apple payment platform. Loup Ventures conducted similar studies in 2018 and 2019.

Year-over-year, Loup Ventures estimates that 507 million iPhone users have activated Apple Pay, up from 441 million in September 2019. That represents estimated yearly growth of 15%, driven in part to the rise in contactless payments during the coronavirus pandemic.

The new adoption statistic implies that 51% of Apple's total iPhone user base has set up the payment platform. Loup Ventures' Gene Munster also notes that the user growth statistic doesn't capture Apple Pay transaction data, which he estimates is "growing north of 30% over the past six months."

As far as where those Apple Pay users can take advantage of the payment platform, the study finds that banks and top retailers adopting it has growth 20% or higher.

The data suggests that around 40% of top retailers offer Apple Pay on desktop; 39% offered it on mobile; and 43% offered Apple Pay within iOS apps. The mobile segment saw the fastest growth of 39% year-over-year, compared to 22% for desktop and 20% for iOS apps.

Loup Ventures also notes that banks continue to adopt the Apple payment platform. As of September 2020, there were 5,480 banks that supported Apple Pay globally, up 29% from 4,250 the prior year.

Although Loup Ventures says it no longer tracks in-store adoption, it estimates that Apple Pay is now accepted at 95 out of 100 top retailers in the U.S. and 85% of all retailers in the country.

Apple hasn't revealed much concrete information about how Apple Pay is doing. During the company's September quarter earnings call, Apple CEO Tim Cook only said that "Apple Pay is doing exceptionally well" and that "contactless payment has taken on a different level of adoption."


  • Reply 1 of 3
    wood1208wood1208 Posts: 2,611member
    Honestly, when Apple fans pressure stupid Walmart to adopt ApplePay is personal and community WIN. Please create some kind of online appeal/movement/signup/whatever to make Walmart realize the AppleApy is very convenient to customers and foolish to ignore. In fact Walmart App is so stupid and inconvenient to use it at checkout terminal that I have to remember to bring my wallet to pay with credit card. Due to the same reason, as a long time customer of both Sam's club and Walmart; I moved to Costco and Target. Convenient and price of merchandise same or lower.
    Please join with me.
    edited November 2020 watto_cobra
  • Reply 2 of 3
    macguimacgui Posts: 2,071member
    I don't shop at Walmart but might if they had Apple Pay. More vendors accepting Apple Pay are needed. I try do shop only where it's accepted. Costco does AP but not on the Apple Card as it's a MasterCard.
  • Reply 3 of 3
    wood1208 said:
    Honestly, when Apple fans pressure stupid Walmart to adopt ApplePay is personal and community WIN. 

    The only other major place that doesn't accept Apple Pay is Kroger. (you might know it as Food4Less, Ralphs, Smiths, Fred Meyer, Fry's, and Foods Co.) For the largest grocery store in the country to not accept it is ridiculous.

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