The Future of Mobile Payments

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What you get

30+ charts in PowerPoint and Keynote format that you can edit
40+ pages of data driven in-depth analysis in Word & PDF format

About the report

This report will look into why US consumers aren’t warming up to mobile payment services and how mobile wallets can integrate shopping and peer-to-peer transfers to make payments relevant with smartphone owners for wider adoption.

Tablet of Contents

Introduction

Who is driving growth of the us mobile payments market?

US mobile payment transaction value will more than double by 2019
Multiple device owners are twice as likely to use mobile payments
Millennials and generation x drive mobile payment adoption in the us
Black and hispanic consumers lead in mobile payment usage

How does mobile compare against other payment options?

Cash and card beat mobile across most categories
Cash and card perceived as more secure payment options

Which mobile payment services do consumers use?

Knowing about a mobile payment service does not mean consumers use it
Paypal is the most well know and widely used mobile payment service

How do consumers use mobile payments?

Consumers use mobile to pay their bills and pay for their purchases
Fashion and luxury ahead of travel and sporting goods in mobile commerce
Consumers pay on smartphones or tablets depending on category
Consumers spend more on tablets than on smartphones
Debit and credit cards fund consumer mobile payments

What is keeping consumers from using mobile payments?

The biggest barrier to mobile payment adoption lies in consumer minds
Consumers expect mobile to help them shop and replace their wallets

How can mobile wallets make mobile payments relevant?

Consumers define mobile wallet as tool to organize marketing content
Mobile wallets that integrate marketing also drive revenue
Consumers want mobile wallet content, but brands are slow to provide

How can mobile wallets enhance shopper purchase journey?

Mobile is already a key part of the shopper’s in-store journey
Mobile wallets can bring together the fragmented consumer journey

How do consumers use mobile wallets beyond shopping?

Trust drives peer-to-peer transfers between members of one’s social network

Who do consumers trust most to provide a mobile wallet?

Consumers trust banks and credit card brands with their mobile wallets
Consumers trust banks because of experience with mobile banking
Banks can target mobile banking users with wallet services

List of Charts

US mobile payment transactions by type, 2014-2019
US consumer usage of mobile payment, All vs mobile device owners
US mobile payment usage by age group, 2011-2014
US mobile payment usage by ethnicity, 2011-2014
US consumer preferred payment method by transaction type
US consumer cash carrying and spending behavior
US consumer payment methods by sense of security
US consumers’ familiarity with and usage of mobile payment services
US consumers’ familiarity with mobile payment services
US consumers’ usage of mobile payment services
US consumers’ usage of mobile payment by purpose
US consumers mobile payment method at Point-of-Sale
US mobile share of eCommerce transactions by category
US mobile share of eCommerce transactions by device type
US mobile order value compared to $100 spent on desktop
US consumers funding method for mobile payments
US consumers’ reasons for not using a mobile payment service
US consumers’ mobile payment usage by type of user
US consumer future interest in mobile payment activities
US consumer awareness of mobile wallet features
Starbucks weekly mobile app transactions volume in the US
US consumer expectation for mobile wallet content
US consumers in-store smartphone usage by purpose
Consumer feature preferences for mobile digital wallet
US consumers’ mobile wallet usage for peer-to-peer transfer
Venmo monthly mobile app transactions value in the US
US consumer most trusted mobile wallet provider
US consumer mobile banking usage by purpose
US mobile banking usage by age group, 2011-2014
US mobile banking usage by ethnicity, 2011-2014
US consumer access to banking services by means used

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