It’s been four weeks since Apple Inc.’s mobile payments system Apple Pay Oct. 20 debut, and most of Apple’s merchant partners are keeping mum about early results.
But one merchant, grocery chain Whole Foods Market Inc., says it completed 150,000 Apple Pay transactions in the first 17 days following the launch of the payment method that enables consumers to use their iPhone 6 or iPhone 6 Plus smartphones to pay in a store with one touch. That puts Apple Pay transactions at 0.91% of total sales during the period, experts say. The Apple Pay “experience at checkout has been very fast, convenient and secure,” says a Whole Foods spokesman.
But experts say Whole Foods’ numbers likely aren’t typical. “1% is a very big number this early on which could well relate to a higher than average overlap between the Apple/Whole Foods customer bases, Whole Foods’ proactive approach to mobile payments in general, and perhaps some incremental marketing activities,” says Rick Oglesby, a senior analyst at Double Diamond Group LLC.
Internet Retailer, November 14, 2014
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