The percentage of global point of sale transactions occurring through contactless payments — accounted for about 15% of transactions this year — will grow to 53% within five years, according to a new POS [point-of-sale] study from Juniper Research. What’s more, according to research by Pymnts , which covers the payments and commerce markets, Apple Pay had the highest usage rate among those who could use contactless payment for a transaction.
Walmart Pay has second highest at 5.1%, and Samsung Pay is third at 3.3%. Android Pay lowest usage at 1.8%; higher than in the previous quarter but still a very low usage.
Though Apple Pay has gotten an increase in usage this quarter at 5.5%, it’s still below its peak in March 2015, according to Pymnts. The research group says that the top two reasons folks don’t try mobile wallets are: security concerns (though they’re becoming less of an issue) and they’re happy with their current payment methods.