[March 15, 2017] |
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New Survey Shows Mobile Wallet Adoption Is A Long, Slow, Stalled Slog
A new study just released by PYMNTS.com reveals
that mobile wallet usage in the United States remains small and shows no
signs of increasing soon.
According to the latest edition of the PYMNTS/InfoScout Mobile Payment
Adoption less than one in twenty consumers who have one of the main
wallet (Apple Pay, Samsung Pay, and Android (News - Alert) Pay) use it when they can.
The study also showed percentage of people who have so much as tried a
mobile wallets appears has flatlined for most mobile wallets - except
Apple (News - Alert) Pay, which has been in the market the longest and actually seen
its first time usage go down.
Other key findings from the PYMNTS/Infoscout Data include:
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Apple Pay leads the pack when it comes to number of consumer have at
tied it at least once at 22%. That compared to about 15% for Samsung (News - Alert)
Pay and less than 10% for Android Pay.
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Samsung Pay leads when it comes to the fraction of people who have
Samsung Pay on their phones and hae used it for a transaction when
they could because the merchant had the right technology with 4.5%.
Apple Pay came in a close second at 4.0% and remains Android Pay
remains far behind in third place at 1.1%.
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3.3% of consumers have Walmart pay installed on their phone after 8
months in the market. That compares to Apple Pay (2.5 years in the
market) and Samsung and Android Pay (1.5 years in the market) which
have seen fairly flat usage stats for their entire existence.
According to survey respondents, the main reason they aren't using
mobile wallets is that they are happy with their current payment methods
such as plastic cards and cash. One bright spot for mobile wallets is
that people are becoming less worried about security.
According to Karen Webster, CEO of PYMNTS.com, "So far mobile wallets
aren't attracting much consumer interest with Apple Pay the oldest
regularly clocking in between 4-5% of people who could use their wallet
actually using it. The lesson, though, isn't that wallets are dead but
that the providers, and innovators, really need to focus on features-or
something-that will get consumers, and merchants, excited."
The PYMNTS/InfoScout Mobile Payments Adoption Survey was conducted in
March 2017 and is based on the responses form more than 7,655 thousand
consumers.
ABOUT PYMNTS PYMNTS.com is reinventing the way in which
companies in payments share relevant information about the initiatives
that shape the future of commerce and makes news. This powerful B2B
platform is the #1 site for the payments industry by traffic and the
premier source of information about "what's next" in payments. C-suite
and VP level executives turn to it daily for these insights, making the
PYMNTS.com audience the most valuable in the industry. It provides an
interactive platform for companies to demonstrate thought leadership,
popularize products and, most importantly, capture the mindshare of
global decision-makers. It's where the best minds and best content meet
on the web.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170315006274/en/
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