Not a lot of folks using Apple Pay — but those who do really like it

Approximately one percent of all retail transactions in the U.S. are conducted using Apple Pay, and those of transactions are likely performed by the same small group of iPhone owners, according to research firm Aite Group.

On a brighter note, a recent survey from Phoenix Marketing International found that 79 percent of Apple Pay users have completely replaced their use of credit and debit cards. That's up from around 50 percent during the first half of the year. Phoenix says that 14 percent of all credit cardholders have linked a payment card to Apple Pay. 

“As payment terminal technology catches up and more people upgrade their phones to those supporting Apple Pay, Apple stands to benefit from significant growth in mobile payments,” opines The Motley Fool. “Apple Pay isn't a business in itself. Although Apple is collecting a small fee for each transaction, it's positioning it as more of a feature for iPhone owners and a tool to sell them … The benefit is that Apple doesn't need to worry about attracting the largest user base possible; it doesn't need to focus on making it compatible with everything. Instead, it can focus on making it a product users prefer over other payment options whenever it's available.”