The year of Apple Pay might be starting to plateau after adoption of the mobile payments service exploded through out 2015, according to data from Phoenix Marketing.
Apple Pay is still picking up users one year after launch, but the firm’s data shows that growth has slowed over the last few months. It appears that Millennials aren’t as crazy yet about wallet-free payments as expected. Gen X users have grown the most though with nearly 23% having already signed up for the service in the first year.
Phoenix Marketing shared some stats with AppleInsider, showing Apple Pay is now being used by 14 percent of households with eligible credit cards.
Gen Xers currently account for 48 percent of all Apple Pay users heading. Millennials take up the next 42 percent, while Baby Boomers and older generations lag behind in adoption.
The September survey claims that 79% of Apple Pay users say they have completely replaced contactless plastic credit and debit cards with iPhone and Apple Payments. Over 86% of users link a credit card to Apple Pay, while 49% link a debit card, and 22% use prepaid cards.
Buster Hein is a freelance writer who lives in Phoenix, Arizona. Twitter: @bst3r.
4 responses to “Gen X loves Apple Pay more than Millenials do”
All the millennial are too busy asking for free handouts to be using Apple Pay
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Probably because millennials don’t have a bunch of disposable income like other generations do. We’re too busy paying outrageous student loans.
I’d like it even more if the 18 yo cashier would quit trying to “position” my phone closer to the terminal. If you can’t ring up my wine, don’t reach for my phone!