Every year, more millennials are opting for mobile payments such as Apple Pay, Google Pay, and Samsung Pay when making purchases online and in-stores. But which mobile payment option do millennials consider the best?
Apple Pay Beats Google Pay And Samsung Pay
Dealspotr, a crowdsourcing platform for deal sharing, has surveyed 1,000 millennials and GenZ respondents to get some feedback. The respondent group was comprised of 500 millennials (males and females aged 25 to 34) and 500 GenZ users (males and females aged 18 to 24).
While shopping in-store, at least 11 percent of millennials and 10 percent of GenZ users prefer to use Apple Pay to purchase items in the checkout line. Making Apple Pay more popular than Android Pay and Samsung Pay with 4 and 2 percent preference rates, respectively.
When it comes to shopping online, 15.1 percent of millennials and 14.6 percent of GenZ respondents ended up using Apple Pay. While 8.6 percent of millennials and 9.1 percent of GenZ respondents used Google Pay.
Michael Quoc, the Founder and CEO of Dealspotr, was shocked by the results as most websites don't support Apple Pay.
How Apple Pay Beat Google Pay
"Given that most websites don't support Apple Pay yet, this seemed high. We believe that the majority of these cases involve paying for items through iOS mobile apps that connect to Apple Pay, indicating strong use of Apple Pay within native iOS applications," said Quoc.
Why are millennials using Apple Pay instead of Google Pay? "The general trends indicate that the average iOS user is way more active on their smartphone than the average Android user," Quoc told Tech Times.
"iOS users tend to have higher income, and are better educated than Android users, so they may tend to be more attuned to new features and capabilities available on their phones," said Quoc.
Apple also manages to create more of a user-friendly experience by getting users acquainted with their security systems such as Face ID and Touch ID. "Once users have onboarded to their phone's biometrics systems, they are more likely to adopt a payment service attached to their phone's security," said Quoc.
Google's ecosystem is more fragmented, so it becomes more challenging to educate Android users about new features. Google also has a hard time getting Android phone users to upgrade to the latest version of its operating system, which explains the decrease in the number of people using Google Pay.
Samsung Pay usage is much lower compared to Apple and Google since Samsung devices are limited to using the Android operating system.
"Given that they don't fully control the Android software stack, Samsung may face limitations in how seamlessly they can integrate their payment experience throughout their entire user experience, vis-a-vis Apple," said Quoc.