Apple Pay has become one of the most widely used mobile payment services worldwide, providing users a fast, convenient, and secure way to make purchases both online and in stores. But how many people actually use Apple Pay in 2024? Let‘s take a closer look at the latest Apple Pay user statistics and facts.
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Apple Pay Global User Statistics
According to the most recent data, Apple Pay now has over 507 million registered users worldwide. This makes it by far the most popular mobile wallet app globally.
Just to put the massive growth of Apple Pay into perspective:
- In 2018, Apple CEO Tim Cook announced Apple Pay had 127 million global users.
- In 2020 alone, Apple Pay gained 66 million new users worldwide.
So in just the past 3 years, Apple Pay‘s user base has nearly quadrupled in size as more people adopt mobile payments.
Apple Pay Users in the United States
In the U.S. specifically, Apple Pay now has around 45.4 million users according to projections.
Some additional key stats on Apple Pay adoption in the U.S.:
- In 2020, Apple Pay accounted for a staggering 92% market share of mobile wallet debit card transactions in the U.S.
- Apple Pay‘s overall transaction market share in the U.S. reached 43.9% in 2020.
- Surveys found 6 in 10 Brits used Apple Pay for in-store transactions in 2021.
Considering iPhones have roughly a 50% market share in the U.S., the fact that nearly half of all mobile transactions are done via Apple Pay demonstrates the popularity and loyalty of the service among iOS users.
Where Is Apple Pay Accepted?
Consumers are much more likely to use a mobile payment service if it‘s widely accepted by retailers. Apple has focused intently on expanding Apple Pay acceptance.
According to Apple, over 85% of U.S. retailers now accept Apple Pay.
You can use Apple Pay at over a million physical retail locations in the U.S., including:
- Grocery stores like Whole Foods, Kroger, Ralphs, Fred Meyer
- Pharmacies like Walgreens, CVS, Duane Reed
- Big box retailers like Best Buy, Target, Costco, Walmart
- Convenience and gas stations like 7-Eleven, Exxon, Shell, Chevron
- Restaurants like McDonald‘s, Panera Bread, Starbucks
Apple Pay is also accepted by numerous apparel, home improvement, electronics, entertainment, and other merchants.
Besides in-person payments, Apple Pay can be used for online payments in apps and websites that support it. Apple says over 90% of U.S. ecommerce sites now accept Apple Pay.
Who Uses Apple Pay?
In the U.S, Apple Pay appeals primarily to iPhone owners given it‘s baked into the iOS operating system. Specific demographics of U.S. Apple Pay users include:
- In 2021, 63% of iPhone owners who had used Apple Pay said they had made at least one in-store purchase with it.
- However, overall only around 6% of iPhone users make in-store purchases via Apple Pay regularly according to surveys.
- Apple Pay user base skews relatively young, with higher adoption rates among millennials and Gen Z.
Internationally, Apple Pay is now available in nearly 70 regions worldwide, giving it access to users in Canada, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Recent Apple Pay Updates
In addition to international expansion into 9 new markets in 2021, some other recent Apple Pay updates include:
- Apple Family Card – Allows up to 5 family members to share an Apple Card account.
- University student ID support – Students can add their college IDs to Apple Wallet to access dorms, pay for meals, etc.
- Health insurance cards – U.S. and Canadian IDs can now be added for payment and identification.
- Driver‘s licenses and state IDs – Pilot programs are testing enabling these IDs in Apple Wallet.
These features make the Apple Wallet more of a digital identity platform beyond just payments. Apple is also reportedly working on a "Pay Later" installment loan program.
Apple Pay Revenue and Projections
Apple does not break out Apple Pay revenue specifically, but it‘s estimated to generate over $1 billion annually in transaction fees.
While Apple Pay adoption dipped slightly during the pandemic in 2020, analysts expect growth to accelerate again:
- U.S. users expected to climb to 47.2 million in 2022 (up from 45.4 million now).
- By 2025, Apple Pay projected to reach 54.5 million U.S. users.
With Apple Pay now accounting for nearly half of all mobile wallet transactions in the U.S., Apple is positioned to increase monetization of the service over the coming years.
Conclusion
With over half a billion global users and broad acceptance among retailers, Apple Pay has become the clear leader in mobile payments. For iPhone owners, it provides a seamless way to make secure contactless payments in-store and online.
The continued growth of Apple Pay users demonstrates mobile wallets are here to stay as more consumers embrace the speed and convenience of tap-to-pay. For iOS users, Apple Pay is now an indispensable part of the iPhone experience.
