Apple Pay feature is moving very slowly, a new report says. Half a year since the launch of Apple Pay option, only 6 percent of iPhone 6 owners have used the technology and 85 percent of people with access to Apple Pay have never used it, says a new report by InfoScout and PYMNTS.
The new data were disclosed at PYMNTS.com Innovation Project 2015 mobile payments conference. 1,188 participants were questioned over a three-day period last week.
Users who haven’t tried Apple Pay assured that they were quite satisfied with their current payment method and/or didn’t understand how the new technology worked. About 9 percent of iPhone 6 owners have played around with Apple Pay, but haven’t actually used it.
The report also unveiled that 30 percent of those who have used Apple Pay make decisions about what stores they visit based on whether or not those stores have Apple Pay.
“They’ve clearly built a product that works. The challenge is getting people to use it to begin with,” says InfoScout CEO Jared Schrieber. He says the people are conditioned to use their credit cards at stores, and plenty of elements reinforce that behavior — like the sign on the payment terminals that reads “Please swipe your card.”
Which is more, the interviewers had also come to the conclusion the situation was also aggravated by the fact Apple Pay is far from ubiquitous: It only exists on two very new devices.
“Not only do you have to have consumers with Apple Pay, you have to have consumers with iPhone 6. So, you have to have a consumer with the right hardware and the merchant with the right hardware in order for it to work,” says Karen Webster, chief executive of PYMNTS.
One more reason for the low popularity of Apple’s own payment methods is its previous unability to avoid ID thieves. Apple’s wallets can be considered secure, but the cards linked to those accounts are not so protected as they seem to be.
Back in February, Cherian Abraham, a Richmond-based payments consultant for banks and retailers, posted an article regarding Apple Pay fraud, saying that it “graduated from an itch to a raging infection” due to security flaws. Abraham also adds that it is “growing like a weed, and the bank is unable to tell friend from foe.”
“Today we’re adding a new feature in Messenger that gives people a more convenient and secure way to send or receive money between friends. This feature will be rolling out over the coming months in the US,” the company announced on its blog.
The new payments feature for its Messenger that lets userst connect their Visa or Mastercard debit card and tap a “$” button to send friends money on iOS, Android, and desktop with zero fees.
However, Facebook warns: “The money you send is transferred right away. It may take one to three business days to make the money available to you depending on your bank, just as it does with other deposits.”