Apple Pay In-App Transactions Continue to Grow

[Maura]

According to AppleInsider today, app developers have really taken to Apple Pay, and are using it more and more to enable in-app payments. One reason why Apple Pay is proving to be a popular method of payment for apps is because it does n’t need NFC payment terminals to be installed in a retailer.

In the original report by Ian Kar for Quartz, it said that Apple Pay is making “serious progress in mobile commerce,” pointing to figures from Piper Jaffray’s Gene Munster who said that the number of apps that now accept Apple Pay are reaching an “inflection point.”

Use of Apple Pay from within a store app, for example, only needs the user to approve the transaction via Touch ID, which is a lot easier than painstakingly entering payment information and billing address details.

According to various apps that use Apple Pay, this infinitely more streamlined approach has led to an upswing in order completions, in contrast to the traditional method of payment where people often ditch their virtual shopping cart before completing payment.

For example, men’s clothing retailer JackThreads says that Apple Pay users were 92% more likely to complete their transaction.

Other services that have incorporated Apple Pay into their payment system include AirBnb, Kickstarter, and Uber.

And it’s not just virtual transactions that are involved here, as many physical stores are using Apple Pay to enable customers to pay for their goods much more easily in-store, with Apple’s own retail store app being a case in point. Other apps with this service include Starbucks and Dunkin’ Donuts.

Source: Apple Pay in-app transactions rapidly expanding beyond NFC payment terminals