Mobile Payments Not Popular with Consumers

AUSTIN, Texas, March 10, 2015 /PRNewswire/ -- Two-thirds of Americans would "never" or "hardly ever" use their cell phone to make a purchase, according to a new CreditCards.com report.

These results – little changed from six months ago – indicate the public remains skeptical of services like Apple Pay and Google Wallet, despite massive promotional efforts that included yesterday's Apple Watch launch event.

Just six percent would "always" make a mobile payment and 11% would do so "most of the time."

Most Likely to Use Mobile Payments

• Hispanics
• Millennials
• Southerners

Least Likely to Use Mobile Payments

• Whites
• Senior citizens
• Westerners

"The biggest obstacles to mobile payments usage are convenience and security," said Matt Schulz, CreditCards.com's senior industry analyst. "Consumers are already very comfortable swiping their credit and debit cards. Most people don't see why a mobile payments service would be quicker, easier or more secure."

The survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here:

http://www.creditcards.com/credit-card-news/cellphone-apple-pay-poll.php

PSRAI obtained telephone interviews with a nationally representative sample of 1,000 adults living in the continental United States. Interviews were conducted by landline (500) and cell phone (500, including 298 without a landline phone) in English and Spanish by Princeton Data Source from March 5-8, 2015. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error for the complete set of weighted data is plus or minus 3.6 percentage points.

About CreditCards.com:

CreditCards.com, named a "Best Site for Managing Your Credit" by MSN Money, is a leading online credit card marketplace, bringing consumers and credit card issuers together. At its free website, consumers can compare hundreds of credit card offers from America's leading issuers and banks and apply securely, online. CreditCards.com is also a destination site for consumers wanting to learn more about credit cards. Offering advice, news, features, statistics and tools, CreditCards.com helps consumers make smart choices about credit cards. In 2014, over 22 million unique visitors used CreditCards.com to find the right credit card to suit their needs.

For More Information:

Ted Rossman
Public Relations Director
[email protected] 
917-368-8635

SOURCE CreditCards.com

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http://www.bankrate.com

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