First Annapolis has released the third edition of the Study of Mobile Banking & Payments, a semi-annual consumer research study that tracks consumer adoption and use of the mobile channel for banking and payments. The study shows that 7% of U.S. consumers with Apple Pay compatible devices use the service at least once a week.
First Annapolis says that almost 90% of iPhone 6 owners are aware of Apple Pay; nearly two-thirds of compatible Android users are aware of Android Pay; and more than half of Samsung Galaxy owners are aware of Samsung Pay. Those who have used the Pay services give them high ratings: an average of 4.4 out of 5 across the boards, with only a few expressing dissatisfaction.
Twenty-five percent of respondents with compatible devices have enrolled in a Pay service (42% of iPhone 6 users, and 14% and 18% of those with compatible Android and Samsung devices, respectively). Initial trials of the Pays services are high (71% of those who enrolled), but only 25% of overall Pay users report using the service regularly (once a week or more).
Adoption and use of the Pays is increasing, according to First Annapolis. The study says that 31% of iPhone 6 users have made a purchase using Apple Pay, up from 22% a year ago.
