Payments

One Merchant Acceptance Infographic you can't Miss, Apple Pay vs Others

MEDICIFounder and Chief Strategy & Innovation Officer

Despite Apple Pay’s  many great features,many experts believe that Apple Pay needs bigger footprint in terms of merchant acceptance. We thought objective analysis regarding merchant acceptance would benefit readers. Our research uncovered the four most  popular mobile payment systems – Apple Pay, CurrentC (by MCX), Google Wallet and PayPal. The visual below  depicts Apple Pay acceptance -  basically everything in the grey arch. Then non-acceptance of Apple Pay is depicted by everything in the blue arch that is not a part of the grey arch. The merchants shown in the intersecting zone are the ones that are accepted by Apple Pay and one or more of the others.

We believe that Apple Pay has a good start and their strategy of working with card networks and banks seems to be working. Banks like Chase and Bank of America are heavily promoting Apple Pay , which will likely lead to a a large subset of subscribers to Apple Pay.With growing consumer traction, we predict that more merchants will join the Apple gang sooner or later.

Amit Goel

MEDICIFounder and Chief Strategy & Innovation Officer

“Amit Goel is the Founder & Chief Strategy & Innovation Officer for MEDICI. Amit’s vision is to build a strong FinTech market network that involves financial institutions, banks, startups, investors, analysts & other key stakeholders across the ecosystem – helping each one of them in a meaningful way by removing the asymmetry of information and providing a platform to engage & transact.\ \ Amit is passionate about bringing actionable FinTech-focused insights, innovative products & services for the FinTech ecosystem. Some of his work involves startup scores, bank scores/assessments, predictive viewpoints & other innovations that have helped MEDICI’s customers and the ecosystem. He has been named amongst the Top 100 FinTech thought leaders/influencers in the world & Top 10 in Asia multiple times by reputed agencies, consulting firms as well as financial institutions. Amit has built MEDICI (formerly LTP) as a new-age, tech-enabled advisory/research firm, which is now considered the #1 global research & innovation platform for FinTech in the world.\ \ Amit has been writing pioneering viewpoints on financial technology space that have been ahead of the curve since 2010. His data-driven predictions have helped the customers as well as the ecosystem. His past work experience includes a strong background in strategy & market analysis and advisory to clients (from big business houses to Fortune 500 firms) in payments, commerce, financial services & IT/technology. In the past, Amit had also founded a successful consulting & research practice called GrowthPraxis and has worked at Boston Analytics, Frost & Sullivan, and Daimler Chrysler in strategy & research.”