Apple Pay is Killing It in Mobile Payments

Apple Pay
Its a victory for Apple…..kind of. Seems Apple is going to beat the other big name…..Google… the mobile payments space. That’s just one battle in a very big war so don’t forget about Samsung and LG.  Apple has lots of other battles to fight but while Apple Pay is small it has the advantage that the Android system is spread among a whole lot of other firms that have their own solutions. Kind of like having one Democratic candidate with 25% of voters run against 10 Republican candidates each with 5% of voters. Let the larger numbers destroy themselves.

(Bill Taylor, CEO)

It’s clear, by now, that Apple Pay—and by extension Apple—has a lot of competition in the mobile payments space.

There’s perennial smiling troublemaker Samsung, there’s the not-as-dead-as-we-thought LG, and a host of others often from eateries and the like.

The Motley Fool recently took a look at the landscape and noted that, in the fight between Google and Apple, Apple is the current kingpin.

On the surface, such a pronouncement is a puzzle. Apple Pay operates in a walled garden while Android is available to 80 percent of the planet, and then some. So how did Apple Pay—despite a clearly smaller user base—manage to get so far ahead?

The biggest problem Android faced was that, while it clearly had the install base, so did a whole lot of others. Android is the operating system of choice for LG, for Samsung, for Huawei and a host of others…but all of these produced—or in LG’s case are producing—their own solutions.

Thus Android Pay not only had to compete against Apple, but also against all the devices that brought out solutions as well.

What’s worse, the numbers clearly run against Android. While it’s the second-most-accepted payment system at 24 percent, it’s far behind Apple at 36 percent of retailers…”

Source: Paymentweek