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Survey: Reasons People Do Not Use Mobile Payments

July 7, 2015


(click image to enlarge)

The above is from a survey and report titled Consumers and Mobile Financial Services 2015 published by the FDIC.  With 75% of responders indicating its easier to pay with cash or credit/debit cards, it’s clear that consumers are struggling to see the value of mobile payments.

Since most of us are carrying around wallets and smart phones anyways, and have been pulling out our wallets to pay for goods, why would we change?  Perhaps the key shift in mobile payments will happen when more people abandon their wallets, and consolidate all functions into their smart phone.

Who wouldn’t want to carry one bulky item instead of two?  This of course, will just take time as consumers figure this out and see others doing it.

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