What you need to know
- A new study says there were 2 billion debit transactions on Apple Pay, Google Pay, and Samsung Pay in 2020.
- According to Pulse, 92% of those were made through Apple.
- The average transaction value also jumped from $15 to $23.
A new report indicates that Apple Pay accounted for some 92% of approximately 2 billion U.S. mobile wallet transactions last year, dominating Samsung and Google Pay.
A new report from Pulse indicates that the pandemic prompted U.S. consumers to make fewer but larger debit purchases last year, generating a "strong increase in total debit spending."
The report notes that for the first time in 16 years of the study debit transactions declined in total number, however, spending grew by 8%, with average transaction value jumping from $15 to $23 year on year. Of the 2 billion mobile wallet transactions made in the U.S. last year, Apple Pay accounted for some 92% of them, according to the study:
Apple Pay's popularity has drawn scrutiny from some government antitrust bodies, including in Australia, where a committee is trying to establish whether Apple is stifling competition by restricting access to the iPhone's NFC chip. The probe actually raised more questions about the committee than Apple, after the company was posed a series of bizarre questions asking (wrongly) why it charged 30% commission for Apple Pay transactions, and when it would allow third-parties to use Bluetooth on the iPhone.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9