Specific information detailing how widely used Apple Pay is in Sweden is unavailable in the public domain. However, Swedish individuals have a preference for the mobile payment application Swish, which is used by two-thirds of the population.
GENERAL OVERVIEW ABOUT MOBILE PAYMENTS IN SWEDEN
- In early 2017, Apple Pay announced that it would initiate a product launch in four nations, namely the United Arab Emirates, Finland, Sweden, and Denmark, before the year ended.
- Apple Pay was officially launched in Sweden on October 23, 2017. The company conducted this move as part of its expansion.
- Apple Pay could be employed with both credit and debit cards from ST1 and Nordea in Sweden and Finland.
- In 2018, Sweden was one of two nations in Europe with the highest proximity of mobile payments, as well as the highest proportion of transactions conducted via cashless methods. Sweden is considered to be a significant industry player and mobile payments in the country are usually utilized to purchase goods in stores and business locations.
- During its launch in Sweden, Nordea Bank was the first financial institution in the nation to promote Apple Pay.
- According to Statista, in 2017, the most popular mobile payment services in Sweden are the following:
- About 75% of mobile payment users preferred Swish.
- Approximately 14% of mobile payment users preferred Paypal Mobile.
- Around 3% of mobile payment users preferred MyWallet.
- About 5% of mobile payment users preferred other mobile payment services.
- Approximately 21% of the respondents did not utilize any mobile payment services.
- Sweden is considered to be one of the most cashless countries in Europe. Therefore, the nation is one of the top countries for the use of mobile payment apps.
- One of the most widely used mobile payment applications in Sweden, Swish, had approximately 5.5 million users in 2017. In 2019, that figure grew to more than 7 million.
MOBILE PAYMENT USAGE TRENDING IN SWEDEN
- Mobile payment methods, such as Swish, in Sweden are becoming more popular for online shopping.
- As stated by Statista, "To be precise, the share of consumers who used such apps weekly raised from one percent in 2013, to 25 percent as of 2017. There was a particularly big increase from 2015 to 2017, when the share of consumers using mobile payment apps grew by nine percent each year."
- Apple Pay dominated the market in 2018, beating Google Pay and Samsung Pay due to a rise in the number of users.
- Samsung Pay made up around 17% of mobile wallet transactions, while Google Pay comprised 6%. However, Apple Pay accounted for more than two-thirds (77%) mobile wallet transactions.
- According to Anita Solaman, the Director of debit management at Auriemma, the notably high rate of adoption for debit card users may be connected to demographics as Apple customers are typically younger, a group that is more inclined to be users of debit cards.
GLOBAL APPLE PAY USERS
- In 2016, there were 62 million Apple Pay users, globally.
- According to Statista, in 2017, there were 127 million Apple Pay users, globally.
- In 2018, there were 383 million Apple Pay users, globally.
- As reported by Merchant Machine, in the United Kingdom, around 24% of the mobile payment users utilize Apple Pay.
- According to 9to5mac, "Apple Pay is supported by a limited number of Nordic banks. Clearhaus says that in all it supports 7,500 merchants in 33 countries, with around two-thirds of them in Apple Pay countries."
Our research began by searching for existing information on the number of Apple pay users, Apple Pay payments by volume, and Apple Pay payments by value from articles, news reports, statistic reports, journals, etc. We searched through Statista, Forbes, US Today, US Journal, The New York Times, etc. Using this approach, we found details on the overall/general mobile payment methods available in Sweden. Some articles listed Sweden as one of the top cashless countries in Europe, and the usual payment methods in the nation are mobile and card payments. Since our focus was on the statistical data of users, we did not find the overall/general mobile payment methods available in Sweden helpful.
We then attempted to re-focus the subject and locate data through Apple, Inc. We thought that there was documentation, a company profile (international), or press releases centered on the expansion of Apple Pay to different countries. Also, we believed that Apple, Inc. monitors the performance of Apple Pay in Sweden since its launch in 2017 and published some valuable insights for investors to reference. We tried searching through their website, specifically the Apple Pay section, and try finding relevant data. Information from the Apple Pay web page mostly concerned the service features of the app and no specific information discussing the number of Apple pay users, Apple Pay payments by volume, and Apple Pay payments by value were available. Additionally, we searched for information through Apple, Inc., in general, which did not produce useful results.
Next, we used a triangulation approach by focusing on alternative mobile payment apps available in Sweden. We thought that if we could obtain the total number of mobile payment users, the user shares of the mobile payment app providers available in the country, average Apple Pay payments performed by users, we could calculate the requested data. We explored surveys, polls, market analysis, reliable databases, research studies, and consumer reports for this information. We were expecting to find information from the sources as Apple Pay has been in the market for years now, and we thought that numerous studies were addressing this topic. Unfortunately, there was no available data on the total number of mobile payment users, and we were only able to find global mobile payment users. We believed the information we were seeking was dependent on each other. Therefore, a triangulation approach would fail if there was one data point missing.
While we were unable to provide statistics showing how widely used Apple Pay is in Sweden, including the number of Apple pay users, Apple Pay payments by volume, and Apple Pay payments by value, we presented a general overview of mobile payment apps in the country, global mobile payment apps, and Apple Pay in Sweden. Moreover, we provided the information we gathered from Statista, and NBC News as it is essential to the request.
We assumed that the reason for the unavailability of data focused on Apple Pay is that it just recently launched in Sweden. Due to the popularity of cashless payment in Sweden before Apple Pay's arrival, the Swedish were already using other mobile payment apps, such as Swish. Information from articles, market research reports, and industry analyses on Apple Pay in Sweden, specifically about its users, have not been published yet because Apple Pay is a new entrant to the Swedish mobile payment market, although there is a large amount of Apple/IOS users in the country.