Apple Pay Fails To Catch On With Consumers One Year After Launch

Oct. 6, 2015

Apple Pay marks its one-year launch this month, however, it has failed to gain traction with consumers, according to Bloomberg. In fact, the mobile-payment system accounts for only 1 percent of all retail transactions in the U.S.

A June survey done by PYMNTS and InfoScout found that only 13.1 percent of eligible Apple Pay users had tried the service.

Bloomberg reports that the service has suffered from a limited number of terminals available and a lack of promotion, however, there are signs that demand will pick up in the coming years.