PayPal Says Study Shows Support for Mobile Wallets
Adoption of mobile wallets is not muted, according to a survey of British, German, Australian, Canadian, and U.S. consumers commissioned by PayPal. Eighty-three percent of respondents said they wished they did not have to carry physical wallets, while 29 percent of U.S. respondents said they would switch from a physical wallet to a mobile wallet if they had to choose just one. “Consumers…are looking to have technology solve real world problems such as standing in line to order, tracking receipts and managing things like loyalty and gift cards,” says PayPal’s Anuj Nayar. However, the study uncovered barriers to mobile wallet adoption, including many businesses lacking a mobile wallet payment alternative. Trends favoring mobile wallets include lifestyle changes such as greater smartphone use, with digital wallet acceptance at gyms, health clubs, laundromats, restaurants, and grocery stores especially desirable among survey respondents. Nayar says mobile wallet use is often associated with smartphones, but he notes that any Internet-enabled device can function as a digital wallet. PayPal is aggressively promoting mobile wallet payment services. It just launched the Cash for Registers program, which offers retailers an electronic point of sale service option that will waive fees as an enrollment incentive through the remainder of the year.
From “PayPal Says Study Shows Support for Mobile Wallets”
Investor’s Business Daily (06/19/13) Tsuruoka, Doug