While many shoppers still pay with cash, mobile payment utilization continues to increase. To keep adoption rates on the rise, however, better improvements to visibility, quality, connection and usage instructions will need to be implemented.
In an April 2019 survey from ad agency Hill Holliday, 55% of US smartphone users said they hate the idea of life without cash, and 45.3% don’t see any reason to use mobile payments. However, an aversion to new transaction tech may be due to a lack of awareness. The study also found that:
- 23% of respondents said they don't know how to use mobile payments.
- 23% reported being unaware of whether stores will accept mobile payments.
- 48% said they wouldn't recommend using mobile payments.
According to an October 2018 study from RootMetrics and IHS Markit, more than one-third of US smartphone users said they don’t use mobile payment apps because they think using a credit card or cash is easier (37.4%), or they worry that their data isn’t secure (36.3%). One in 10 respondents said they don’t use them because they’ve experienced connectivity issues in the past.
Additionally, GfK surveyed US internet users last August on their feelings about mobile payments. Around half of millennial and Gen Z respondents said they preferred to pay with their mobile device. They also said they feel the method is easier and faster.
But Gen Xers and boomers (ages 39 and older, per the survey) found little use for mobile payments, with just 28% and 11% noting it as their preferred payment method. Across the board, security concerns plagued mobile payments—more than half of consumers of all ages said they were worried about the security of their personal information when using mobile payments.