According to the newly released annual Apple Pay report from Gene Munster’s Loup Ventures, Apple Pay is growing year on year, an “impressive” performance, according to Munster.
Loup Ventures estimates that there were 127 million global Apple Pay users by the end of 2017, a big increase from the estimated 62 million users by the end of 2016. Even so, this amounts to just 16% of the global iPhone user base, with approximately 795 million iPhone active worldwide. This represents a doubling of the percentage of the worldwide user base, however, up from 8% in 2016. Loup Ventures’ figures also show that approximately 30% of new iPhones activated in 2017 had Apple Pay enabled.
The report does not include figures from Apple Pay Cash, as it only launched last December.
“We remain optimistic that Apple Pay will gain widespread adoption over the next 3-5 years,” says Munster, who notes that Apple’s integration with iOS ensures that Apple Pay is “the easiest to use digital wallet.”
Source: Apple Pay used by estimated 127M users globally, but analyst claims only 16 percent of iPhones used for payments