Chase: Over 1M Customers Have Added Their Cards to Apple Pay

Chase: Over 1M Customers Have Added Their Cards to Apple Pay

Chase said on Tuesday that over 1 million of its customers have provisioned their credit or debit cards for use with Apple Pay. The financial firm also provided some demographic information about those customers.

Chase: Over 1M Customers Have Added Their Cards to Apple Pay

AppleInsider:

“We were an early participant of Apple Pay,” said Eileen Serra, CEO of Chase Card Services. “We do continue to see good growth in the number of consumers that are provisioning Chase cards in their Apple Pay wallet.”

Chase noted that customers using Apple Pay tend to be younger, and have higher incomes. Chase says the average Apple Pay user is nine years younger and makes 21% more money than its average customer. The bank reports 69% of Chase card Apple Pay transactions are credit card based.

Chase also noted that Chase cards are used via Apple Pay at the top five merchants 58% of the time.

“We’ve been excited about the feedback we’ve gotten in terms of the great customer experience,” Serra said. “As more merchants adopt, I would expect to see more traction here, as well.” 

Also on Tuesday, Visa Europe announced that its contactless payment terminals in Europe will be Apple Pay-ready by mid-April.

Apple Pay, introduced in the United States last October, is now supported by over 100 financial institutions, recently adding 20 new banks to the list.

The payments service has proven popular in the U.S. following its October 2014 debut, quickly grabbing 1% of all digital payment dollars in the month of November.

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