Digital Transactions Authoritative, insightful and timely information for payments professionals
A new report based on the practices of 100 retailers finds that Apple Pay is available at more of them—97%—than its chief competitors Google Pay and Samsung Pay.
That’s according to the 2021 Omnichannel Retail Index, released Monday by FitForCommerce, a retail consultancy, in conjunction with the National Retail Federation. Sixty-four percent of retailers said they offered Google Pay and 59% Samsung Pay. Overall, 84% offered a mobile-payment option. That’s up dramatically from 56% in 2020, likely spurred by last year’s lockdowns and change in consumer behaviors.
New trends are taking hold in 2021, too, with 52% offering buy now, pay later payment options. That’s up from 38% last year. Seventy-eight percent of retailers offer PayPal checkout, down slightly from 80% in 2020, when the pool of retailers numbered 125.
“In addition to making sure online payments are secure and quick, retailers are increasingly investing in expanding payment options such as ‘buy now, pay later’ and payment installment plans to broaden target audiences. In addition, a smaller group of retailers are experimenting with alternative payment methods such as cryptocurrency and Venmo payments,” the report says.
Buoyed by the effects of the Covid-19 pandemic on consumers, most retailers—86%—offer buy online, pick up in store, a figure up significantly from 66% in 2020, though last year’s report was issued in June.
