Apple Pay is the Favourite Payment App of US Teens

The 43rd semi-annual survey of Piper Sandler is just released, which shows the digital interests of 7,100 US GenZ teens.

As per it, 87% of US teens have an iPhone and the same amount of people expect iPhone to be their next handset. Further, the survey revealed that Apple Pay is the favorite payment app used by US GenZ, followed by Venmo, Cash App, and PayPal.

70 Out of 100 US Teens Use AirPods

Apple is undoubtedly a big player in the US, partially because of its home country and also consumers care much about privacy, think about iOS. And this led many to have iPhones as their go-to device for almost every work.

This is the same for the GenZ too, where 87% of US teens are said to have an iPhone, and 87% of people expect their next handset to be an iPhone. This comes from Piper Sandler’s 43rd semi-annual report, which surveyed 7,100 US teens between February 16 and March 22 this year.

The stats are at par with last year’s numbers, which said 88% of teens have an iPhone, and 90% expected to have their next handset as an iPhone. Also, 70% of teens own AirPods which is increased by 2% this year. Also, Apple Pay is said to be the teens’ favorite payment app, partially due to owning an iPhone.

This is followed by Venmo, Cash App, and PayPal in the next places. This is the first time Apple Pay has surpassed Venmo and PayPal as teens’ favorite apps. And teen spending has been increased by 9% YoY, says the report. Further,

“Of note, females continue to lead the growth in not only fashion spending (clothing +15%, Footwear +16%), but also continue to lead in the shift to digital with 95% of upper-income females shopping online vs 91% of males.”

In terms of social media platforms, TikTok for the first time becomes the favorite entertainment app for US teens, with 33% of them saying this. This is followed by Snapchat with 31% and Instagram with 22% share.

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