With 30.3 million users this past year, Apple Pay has pulled ahead of Starbucks as the most popular mobile payment app, as revealed by recent data from eMarketer. The reason for the growth is believed to be due to more point-of-sales terminals starting to accept NFC-based payment apps. According to the data, 39.4% of proximity mobile payment users will be Starbucks users, while Apple will have 47.3%. Google Pay and Samsung Pay are also benefitting from the upgrade to point-of-sale terminals. (Source: ZDNet)
Why this is important for your business:
It’s been slow, but it’s definitely happening: more and more people are paying with their phones. It took some time for people to adopt and for the technology – particularly point of sale technology – to catch up. But mobile payments are a reality and if your small business isn’t accepting these types of payments you’re soon going find yourself losing business to a competitor who does.