Apple Watch owners are very happy with their experiences with Apple Pay when using their new smartwatches.

Research firm Wristly surveyed 1,000 Apple Watch owners in the United States and the United Kingdom and found that 80 percent of owners of the smartwatch used Apple Pay at least once. Of those who do not use Apple Pay, most surveyed said it was because their credit card company does not support it.

Apple Pay was first introduced along with the new iPhone 6 and iPhone 6 Plus in October. When the Apple Watch debuted in April of this year, it was also supported for Apple Pay transactions. Apple owners with a compatible device can simply point it at a payment terminal to cmplete a transaction. Apple Pay is extremely popular on the Apple Watch, probably due to its convenience.

With Apple Pay for iPhones, owners have to take their phone out of their pocket or purse and finish the transaction by approving it with a TouchID fingerprint scan. With the Apple Watch, Apple Pay is already on the user's wrist, and a double tap of the side button is all that is needed to complete the transaction. No password or TouchID is required to complete the transaction as long as the watch remains on the user's wrist.

With such a convenient way to pay for things, half of the Apple Watch owners polled called the Apple Pay service "magical," and another 42 percent called it "convenient." Just four percent of those surveyed called it "not useful." 79 percent of those surveyed said they prefer to use Apple Pay on their watch rather than their phone.

Users prefer to shop at places that accept Apple Pay, and if it is offered, they most likely will use it, according to the survey.

Samsung Pay is Apple Pay's new rival. The new service does not require NFC (near field communications), so almost any credit card reader will be compatible with it.