Apple Pay Dominance Drives Mobile Payment Transaction Volume

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Apple Pay’s dominance, as well as increasing retailer adoption of proximity mobile payment technology, is driving transaction volume growth in the U.S., according to the latest forecast from eMarketer.

eMarketer estimates U.S. proximity mobile payment transactions will total $98.88 billion in 2019, growing 31.8 percent to $130.36 billion next year. By 2021, the total transaction value will reach $161.41 billion.

Much of this growth is due to Apple Pay, which currently captures the largest share of the proximity mobile payment market in the U.S. eMarketer estimates there will be 30.3 million Apple Pay users in 2019, which makes up 47.3 percent of U.S. proximity mobile payment users and 13.7 percent of U.S. smartphone users.

By comparison, Google Pay and Samsung Pay make up 19 percent and 16.8 percent of proximity mobile payment users, respectively, and 5.5 percent and 4.9 percent of all smartphone users, respectively.

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