Walmart Misleadingly Suggests Its Mobile Payment Service Will Overtake Apple Pay

Walmart has picked an interesting way to talk about the popularity of Walmart Pay, its mobile payment service. It claims the service is on its way to overtaking Apple Pay, though it comes to that position based on the percentage of eligible users either service has. That's a misleading stat to use.

Because Apple Pay is accepted by numerous businesses, while Walmart Pay only works at Walmart, the pool of "eligible" users/transactions is much different. Comparing them on that metric makes little sense.

Two-thirds of the customers who try it also use it a second time within 21 days, [Walmart's Daniel Eckert] said, giving him confidence Walmart Pay will surpass Apple Pay in the U.S. in terms of use by shoppers in stores where they're accepted. - Bloomberg

This position was shared based on stats from Pyments, which found Apple Pay is used for 5.5% of eligible transactions, compared to Walmart Pay's 5.1%.

Walmart is one of the only major retailers not working with Apple's payments service.