Mobile Wallet Adoption (Apple & Samsung Pay)

Apple Pay vs. Samsung Pay - War of the Wallets

Apple Pay vs. Samsung Pay – War of the Wallets

2015 has been a good year for Mobile Payment’s with Apple and Samsung Pay launches and media campaigns, consumer’s are at least starting to try mobile payments. Over 341 millions shipments of smartphones were made worldwide according to International Data Corporation (IDC) Quarter 2 of 2015, and most of the growth was in emerging markets like Asia outside of Japan, and the Middle East and Africa. Western Europe, North America, and China are reaching mature growth patterns so trends in established markets aren’t nearly as high. Being as how the wallets basically split on mobile OS’s, analyzing Apple vs. Android marketshare will likely correlate to wallet marketshare as well.

IDC: Smartphone Vendor Market Share 2015, 2014, 2013, and 2012 Chart

Android adoption has jumped to nearly 82% at this point, so its likely Samsung Pay should dominate, but usage patterns differ. Trustev says that 20% of users who have a supporting Apple Pay device have at least tried it versus 14% who have tried Samsung Pay. These stats are even after the Android Pay merger. 56% of people who’ve used Apple Pay continue to use it at least weekly, and 36% of Samsung Pay users state they use it weekly.

It appears Apple’s flair for marketing and loyal following leads the charge in mobile payment usage and adoption, even with Apple’s slacking sales in the space.

Half the people surveyed noted both products as easy to use, so its not an ease of use problem. Encryption and tokenization technologies also secure the transaction better than cards, so it appears that users still haven’t found the “use” yet, or noted enough pain with their old cards.

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