Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Apple Inc. (AAPL): Only 6% of iPhone 6, 6 Plus Users Use Apple Pay 6 Months After Announcement

Apple Inc. (NASDAQ:AAPL)’s digital payment system may have been announced by the consumer electronics giant in September but only 6% of iPhone 6 and iPhone 6 Plus users actually use Apple Pay six months after its announcement.

That tidbit comes to us by way of, a payment industry monitoring company, which just released a study titled “Apple Pay By The Numbers: Adoption And Behavior” in cooperation with shopping industry monitoring firm InfoScout. The study was discussed by last week at the Innovation Project 2015 event.

The key takeaway from the study is that though regular Apple Pay users have increased, up to 6% from 5% in November 2014, the increase is not at all that impressive considering Apple Inc. (NASDAQ:AAPL)’s past performance with its massively successful products. Apple Pay was rolled out in October 2014. says that its study was based off of data from over 1,000 people who had iPhone 6 units and therefore were able to use the Apple Inc. (NASDAQ:AAPL) digital payment system.

Apple, Apple Pay, is AAPL a good stock to buy,, InfoScout, Apple Pay adoption, Apple Pay By The Numbers: Adoption And Behavior

Meanwhile, those who tried Apple Pay in the past but haven’t used it again increased to 9% from 4% in November 2014 when conducted a similar study. That means 85% of iPhone 6 and iPhone 6 Plus users have never tried Apple Pay.

According to the payments industry monitoring site, people who used Apple Pay in the past but haven’t used it again may just be forgetting that it’s an option. It said 32% of these people say they forget they can use the system.

Meanwhile, 31% of the respondents said they were unaware they can use Apple Pay and about 20% said that they preferred other payment methods. It also said that 37% said that they have no reason to change their habits.

Other reasons given for not using Apple Pay were unfamiliarity with how the system works (31%), security concerns (15%) and inability to successfully register with the system (5%).

This leads InfoScout to conclude that Apple Inc. (NASDAQ:AAPL) faces a challenge in changing payment “muscle memory,” or the payment method people are used to. Nonetheless, said that people have “certainly become more willing to try Apple Pay” now than during their first study into the matter.

It also said that those who regularly use Apple Pay really like the payment method. Furthermore, those who haven’t tried the payment system also still had positive sentiments about the system. suggests that Apple find a way to remind people, maybe through beacon technology, that they can use Apple Pay when they are in stores that are capable of accepting this mode of payment.

Christopher R. Hansen’s Valiant Capital owned about 1.24 million Apple Inc. (NASDAQ:AAPL) shares by the end of the last quarter of 2014, down a substantial 23% quarter over quarter. The stake, which was valued at about $136.67 million, made up 14.65% of the whole Valiant Capital portfolio.

I just made 84% in 4 daysI Just Made 84% in 4 Days By Blindly Following This Hedge Fund

I just made 84% in 4 days by blindly imitating a hedge fund’s stock pick. I will tell you how I pulled such a huge return in such a short time but let me first explain in this FREE REPORT why following hedge funds’ stock picks is one of the smartest things you can do as an investor. We launched our quarterly newsletter 2.5 years ago and not one subscriber has, since, said ‘I lost money by EXACTLY following your stock picks’. The reason is simple. You can beat index funds by creating a DREAM TEAM of hedge fund managers and investing in only their best ideas. I just made 84% in 4 days by blindly imitating one of these best ideas. CLICK HERE NOW for all the details.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.