Idea of Apple Pay Growing on American Shoppers

Regardless of whether or not they own an iPhone 6 (or 6+, the larger size) with its built in Apple Pay, 40% of US online buyers like the idea of using a phone for payment instead of carrying around a wallet, according to a new survey by Bizrate Insights, a division of Connexity (formerly Shopzilla).

This is larger than the group of online buyers who own or plan to own one of the new iPhones (27.5%) and twice as big as those who indicated interest in using Apple Pay in general (19%).

More than half of iPhone 6/6+ owners and intended owners would try Apple Pay (53%); further, half of this group believes that Apple Pay is more secure that swiping a credit card in a store. The survey showed Generations X and Y both favor using a phone for payment over carrying around a wallet (46% and 54% respectively).

“That 40% of American online buyers are interested in paying via a cell phone for purchases over carrying around a wallet shows that convenience is a strong force for consumers—and a big unmet need,” says Hayley A. Silver, Vice President of Bizrate Insights, a division of Connexity, Inc. “But whether or not Apple Pay becomes the standard for wallet-less payment systems still remains to be seen given that only 32% of online buyers see this method as more secure than swiping their credit card at a store.”

This same Bizrate Insights survey found that 76% of online buyers are dissatisfied with the strength of credit card security among retailers.

The Bizrate Insights Apple Pay and Payment Security Study #1 was conducted via the Bizrate survey platform and offered to online buyers immediately after purchasing from the Bizrate Network of over 5,000 ecommerce retailers in the US and Canada. Data from the Bizrate Insights Apple Pay and Payment Security Study #1 was collected from 6,256 online buyers from Oct. 23 to Oct. 28.

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