The launch of Apple Card gives consumers new incentives to use Apple Pay and could even boost the service's merchant base:
for 80% of contactless transit payments in New York, likely because tapping a phone is easier than taking out a card and tapping it before putting it back. So, as more cities add contactless payments to their transit networks, more consumers may begin using Apple Pay, which could lead to them using the service for other purchases.Apple Pay's potential growth would be good news for other mobile wallets, as greater interest in Apple Pay could boost their profiles too.
Other mobile wallets will likely see greater adoption and acceptance in the coming years — and that could be partially due to Apple Pay.Wallets like Samsung Pay and Google Pay will be accepted for transit payments as well, so the advent of contactless transit payments will likely boost their adoption rates alongside Apple Pay's bump.
Additionally, if more merchants begin accepting Apple Pay, they may add acceptance for other wallets at the same time to avoid alienating consumers; for context, of US restaurants and retailers accepted mobile payments as of October 2018. This would open the door for more people to experiment with wallets and potentially lift mobile payment adoption in the US.Payments & Commerce Pro
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