New research finds if a bank offered a mobile wallet, 51% of the respondents are likely to use the bank-offered mobile wallet.
Also, 82.8% have a smartphone, but 12% of those with a smartphone do not plan on using a wallet of any kind just yet.
Phoenix-based CCG Catalyst released the results of its recent study, “The Age of Mobile Wallets: What Banks Need to Know When Considering the Creation of a Bank Branded Mobile Wallet” and also found 45% currently use PayPal mobile, which was the most popular mobile wallet used by consumers who took part in the survey.
More than half of the respondents keep track of their spending and paying bills (66.6%), while 47.8% check their bank account status on a daily basis; 58.9% occasionally use their mobile banking app to bank; and the top challenge to using the mobile wallet is fear of identity theft (68.3%), followed by merchant acceptability (33.9%).
“The Age of Mobile Wallets, What Banks Need to Know When Considering the Creation of a Bank Branded Mobile Wallet” offers 60,000 data points from 2,000 customers across 49 United States. These data points were gathered, codified and distilled into insights, themes and recommendations to help banks make a decision on whether to enter the mobile wallet market.
The study, administered through AskYourTargetMarket, was issued to a panel of 25 million U.S. consumers (18 years of age to 65 years plus) to measure consumer attitudes and behaviors toward mobile wallets vs. non-bank mobile wallets. Respondents answered a series of questions segmented in three key themes: usage, behavior and habits.
For data, background and forecasts on Mobile Wallets: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
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