Nearly One Third of American Smart Phone Owners Already Using Mobile Payments
6-1-2016
Twenty-seven percent of U.S. consumers who own a payments-enabled mobile device have used Apple, Android, or Samsung Pay to complete transactions, according to the Auriemma Consulting Group, a specialized payments and lending consultancy.
The survey analyzed the habits of 2000+ consumers with payments-enabled smartphones. Thirty-one percent said that they are make sure to use mobile payments every time that it is an option and 39% said that they would pay via mobile device more frequently if more stores offered the option. Among mobile pay users, the most frequently cited reason for not choosing mobile is that they simply forgot.
Sixty-one percent of those surveyed say their mobile phone s replacing cash for smaller transactions, with 33% having spent $25 or less per transaction during the week of the survey.
Eighty percent of mobile payments users reported overall satisfaction with the process, despite its currently limited availability.
Today, less than half of all smartphones in the US are capable of making payments, but as new phones with advanced technologies reach consumers, expect to see the number of users employing their smartphone for payments to rise.
Find the Auremma Consulting Group press release here.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.
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