Apple Pay will be a major hit this year with consumers, but the new mobile payments system will also see an uptick in demand, according to research from Wedbush Securities.
The firm says Apple Pay could be one of the most popular and most popular products in 2018, due to the fact that it can now be used on a variety of different payment systems.
The company also predicts that its new feature, called Touch ID, will see a significant increase in usage, with consumers using the feature to make transactions at retailers and convenience stores.
In addition, the analyst firm notes that Apple Pay’s new system will make up for the fact it’s not available for all devices.
“The current Apple Pay implementation is not yet as secure as it needs to be to support a wide variety of devices, and while that’s a good thing, the existing Apple Pay functionality is more secure than it needs be, and is not compatible with all mobile payment systems,” Wedbush wrote in a note.
Apple is currently testing the iPhone 6S and iPhone 6C with Touch ID on both versions of the platform, and Apple Pay has also launched in Canada, Mexico, Germany, Austria, Spain, Italy, Japan, India, and the U.K.
Apple Pay is compatible with over 80 different payment options, including the likes of Apple Pay, Visa, Mastercard, and American Express.
The analyst firm also notes that while the Apple Pay launch is a big one for the company, it will take time for consumers to embrace the new payments service.
“This is an ongoing process and will continue to evolve as Apple is ready to expand,” the firm said.