Teens prefer Apple Pay over other payment apps, says a new study of 7,100 teens in the U.S. conducted by Piper Sandler.
The research firm’s 43rd semi-annual Taking Stock With Teens survey was conducted between February 16 and March 22. Of the respondents, 45% were in the South, 22% in the West, 21% live in the Midwest, and 12% in the Northeast. 39% of respondents said they held a part-time job.
It has been long known that teens prefer the iPhone over Android handsets, some even going so far as to make fun of their Android-using compatriots for their “green bubbles” that appear when Android users texts an iPhone user. (Blue text bubbles indicate the user on the other end is using an iOS device.)
Now, the study reveals that teens also favor Apple Pay over competitors PayPal, Venmo, and CashApp. This really isn’t a huge surprise, considering that 87% of the respondents use an iPhone.
While Apple Pay came in first, PayPal’s Venmo ranked second, Square’s CashApp came in third, and PayPal itself ranked 4th among the Gen Z respondents.
The survey results did not reveal whether teens are using Apple Pay to pay in retail stores or to send money to other folks.
Although Apple Pay is the most popular payment app, cash is still king (or queen) among teens, as 89% of teens say they used cash within the last month, up from the 83% of teens that used cash in the 2021 spring study.
As for other technology categories, 26% of the teens own a VR device, but only 5% use it on a regular basis. Close to half of those surveyed (48%) reported being unsure of or not interested in the Metaverse.
Of the 87% percent of teens that own an iPhone, the same percentage expect their next smartphone to be another iPhone. 72% of the participants say they own AirPods.
(Via The Mac Observer)