60% of Americans Plan to Use Mobile Payments This Holiday Season
Mobile wallets may see a new surge of engagement during the 2019 holiday season. A new study from Ibotta revealed that 60% of Americans plan to use mobile payments this winter.
Over 1,000 survey participants were asked about their upcoming interactions with Apple Pay, Google Pay, Samsung Pay, Starbucks Rewards, Target Circle, Target Cartwheel, Walmart Pay, Pay with Ibotta, and Zelle. Nearly 60% of respondents said they have at least three of these apps on their phones, and 15% said they had eight or more rewards/payment apps installed.
While many consumers enjoy having multiple payment and rewards platforms, 52% said they feel overwhelmed when they have too many choices. For consumers who do not use these apps, 10% said mobile payments were a “hassle,” and 14% say it’s easier to pay with a card than with a mobile wallet.
Respondents said the biggest reasons for using mobile payments are to earn rewards or save money. For example, Apple Card users can earn 1% cash back for most transactions, but earn 2% for transactions made with Apple Pay. Cardholders are more likely to engage with the mobile wallet because they earn double rewards for the same purchase.
Last month, Apple Pay surpassed Starbucks in proximity mobile payments (using a mobile app to pay at a physical register). Apple Pay now represents nearly 1/3rd of the mobile payment market for that metric.
Americans may be interested in mobile payments, but it’s still uncertain if they’ll follow-through with those plans. Juniper Research found only 14% of U.S. consumers currently use mobile wallets in stores, showcasing strong room for growth in the future.
This entry was posted in Credit Card News and tagged mobile payments , credit cards , holiday shopping , mobile apps , digital wallets , digital payments , mobile wallets , Christmas shopping , Samsung Pay , Apple Pay , Walmart Pay , Starbucks Rewards , payment apps , Google Pay , Zelle , Ibotta , wallet usage , Apple card , proximity mobile payments , proximity payments
The information contained within this article was accurate as of November 21, 2019. For up-to-date
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