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Mobile payments on the rise after Apple Pay launch


November.18.2014 0 Comments

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Apple Pay has made significant progress in the three weeks since its launch, with some major retailers seeing a wave of customers eager to pay with their shiny iPhone 6.

Whole Foods in particular has racked up 150,000 transactions since Apples Pay launch, the retail chain told the New York Times. While in the grand scheme of things this only makes around 7,000 payments per day, it is a significant step for a single store operating a brand new service.

McDonald’s and Walgreens have also noted a change, with Apple Pay making up half of tap-to-pay purchases at the fast food giant, and mobile payments doubling at the pharmaceutical chain.

But Toys “R” Us, which supports Apple Pay in all of its 870 stores, said that while the number mobile payments at its stores increased after the introduction of Apple Pay, customers were still relying on cash and card payments as they learnt more about the technology.

It is undeniable that Apple Pay has the capacity to make mobile payments mainstream, something that no other provider can claim. Even if consumers avoid Apple Pay itself, the furore surrounding its launch has pulled competitors like Softcard and Google Wallet into the mobile payments spotlight, The New York Times report noted.

While the transition may not be immediate, many companies are investing in support for mobile payments – be it NFC or CurrentC’s QR-Codes – and settling in for the long haul.