New research has shown Apple Pay still has a way to go to reach mass acceptance in the UK with consumers more likely to place their faith in the more established PayPal.
A survey of iPhone users conducted by Forrester found that only 27 per cent would put their trust in Apple’s digital wallet, significantly fewer than had faith in PayPal (43 per cent), their bank (41 per cent), a credit card (40 per cent) and Amazon in which 32 per cent of respondents had faith.
In a blog post Forrester analyst Thomas Husson said: “Apple still has to demonstrate the added value it will bring to merchants (better experience, faster checkout, incremental revenues, etc.) and brands. Also, Apple needs to create trust among UK consumers. They managed to do so in the US and no doubt trust will increase with the backing of the main banks (except Barclays)."
Despite these headwinds Apple Pay is still expected to be adopted faster in the UK than in the US thanks to the higher penetration of NFC and contactless payment points in Britain.