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What is the active user rate (% out of total users) within different mobile wallet users. Active user is defined as a user with 1 transaction per week
Hello! Thanks for your question about the active user rate for various mobile wallet apps. The short answer is that I couldn't identify a clear norm for these apps in terms of the active user rate, although a rate of 5-10% was common. You'll find a deep dive of my research below.
METHODOLOGY
To respond to your request, I searched through trusted media sites, corporate websites, industry reports, and app analytics databases to find the information you're looking for. I looked into all the major payment apps to find the data, but only included those apps for which I could find some of the data you want. In addition, although you asked to base the active user rate on the number of users transacting through the app at least once a week, that is not a commonly found metric. Monthly active users or daily active users are more common than weekly active users, so I've included one or both of those in the cases where weekly figures were not available.
INSIGHTS
Apple Pay: As of one year ago, Apple Pay had 12 million monthly active users. This was the most up-to-date figure I could find. Moreover, I wasn't able to find a weekly figure for Apple Pay. However, according to this source, 5% of Apple Pay users actually use the service.
Samsung Pay: According to this source, Samsung Pay had 5 million active users about a year ago. Again, I couldn't find more up to date information than that, which is particularly problematic for Samsung because the app has grown massively in the last six months. In November 2016, the company released its rewards program, which caused a huge surge in downloads. The current estimate is 130 million installs, with 5 million just in the last month and hundreds of thousands a day. It goes without saying that the 5 million active users of a year ago is probably no longer accurate. This makes it very difficult to calculate an active user rate for Samsung Pay.
Venmo: According to the CEO of Paypal, which owns Venmo, "the average Venmo user sends money through the app several times weekly." I found this to be true; on Android phones, the app has been installed 5.5 million times and has 1.2 million monthly active users. Moreover, nearly half of those use the service at least once a week. That gives Venmo a weekly active user rate of 9% and a monthly active user rate of 21%. It's nearly impossible to find these types of statistics for iOS, as Apple keeps tight reins on all of its data, but I think it's fair to assume that it's similar.
Paypal: In addition to owning Venmo, Paypal has its own app which functions as a mobile wallet. Paypal claims 188 million active users for this app; it's unclear if that's for the app in its entirety or for the mobile payments function specifically. In either case, Android devices account for 48 million installs, although this source counts only 2.7 million monthly active users for Paypal on Android. So, perhaps the 188 million is an overestimate on the part of Paypal, or they're considering total installs as "active users." If you base it on the data I found, the active user rate is 6% (2.7 million active vs. 48 million installs).
Paytm: This app is another where the self-reported data from the company seems too good to be true. The app claims it had 147 million total users in 2016, and 80 million active monthly users. On Android devices, the app has been installed 72 million times, and has 7.5 million monthly active users, giving it an active user rate of about 10% for Android.
Android Pay: This is one app where we do have fairly reliable data, partly because this app is available exclusively on Android; as I mentioned above, Apple rarely releases user data for its apps. Android Pay has been installed 65 million times, and has 5 million monthly active users and 2 million weekly active users. That's an active user rate of 8%.
As you can see, four of the six apps I researched have active user rates between five and ten percent. Venmo does, as well, if you look only at the weekly active users. In monthly, the app performs better, with over 20% active user rate. This is not surprising, however, given the popularity of the app among millennials and the connection to Paypal, with its vast customer base.
Bonus fact: WeChat Pay, a popular mobile wallet in China, has 850 million active users in the country.
CONCLUSION
To wrap up, most mobile wallet apps have an active user rate of around 5-10%. I hope this information is helpful to you! Thanks for using Wonder, and let us know if we can help you with anything else.