Square’s new Apple Watch app turns your wrist into your wallet

Square Cash also sends your Apple Watch a notification when someone requests money from you, and you can accept or reject the transaction right from your wrist.

According to the survey, only 20% of respondents indicated that they “do not perceive a benefit” to Apple Pay due to some security concerns or their payment needs are already being met.

In spite of that, when it comes to the Apple watch, Apple Pay is the perfectly designed app for it. Users love to spend money on buying the watch, just to use it to spend even more money on other things.

While various analyst reports suggest Apple’s latest gadget, the highly publicized Apple Watch, hasn’t been a blockbuster success, a survey indicates those who do own the device are using another one of the company’s much-touted technologies – contactless payment – in droves.

What truly is surprising is what the study has to say about Apple Watch users’ eagerness to use Apple Pay over other payment methods. While a mere 9% said they would rather use Apple Pay on the iPhone, and 12% said they have no preference. Square charges businesses a 1.5 percent fee for the service, which is a little more than half the 2.75 percent it charges for payments via its signature dongle or POS devices. There’s also a dedicated chip that stores encrypted payment information that works with Apple’s Touch ID and Passbook.

An exclamation point-laden report released today from Wristly, an organization that Apple has cited in the past, detailed the pretty impressive impact that Apple Watch has had on adoption of the Apple Pay service. Convenient is certainly is, with 81% using Apple Pay for everyday purchases such as groceries.

It could definitely be a handy feature, that might become far more popular for the Apple Watch than the iPhone.