Majority of Adults Expect Digital Wallets to Replace Money
Fifty-seven percent of U.S. adults say digital wallets either have already or may within the next five years replace physical wallets, according to a Visa survey. Already, 40 percent of respondents carry less than $20 in cash at one time, and 26 percent carry between $20 and $50, with the remaining 34 percent carrying more than $50. One appeal of the digital wallet may be that consumers avoid entering payment information multiple times. The survey also noted that 49 percent of respondents said the most annoying aspect of online shopping is setting up separate accounts with each e-tailer to make purchases. Moreover, 27 percent of U.S. smartphone owners and 24 percent of tablet owners have used their devices to make a purchase within the past year, and 15 percent have scanned a QR code with their smartphone to buy something. The survey also found that consumers would be willing to use their smartphone or tablet to pay for public transportation and parking meters, as well as to pay back friends, to tip for services, and to pay at gas stations.
From “57% of U.S. Adults Expect Digital Wallets to Replace Physical Money”
Internet Retailer (10/10/13) Dusto, Amy