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Most U.S. Consumers Believe In The Future Of Mobile Payments

Despite increasing worldwide demand for mobile services, U.S. consumers still were hesitant to embrace mobile payments, compared to their peers in emerging market countries, according to an SAP study, titled: Global Consumers Ready for Next-Gen Mobile Commerce Services. However, more than half (53%) of U.S. respondents believe that mobile payments will become more important in the future, or plan to use mobile payments in the future.

The research found that concern around safety was a key barrier to mobile payment adoption in the U.S. Close to one third (29%) of U.S. respondents will increase their mobile payment activity when they have more confidence in mobile security.

The SAP study was conducted earlier this year in 17 countries with 12,424 adults who own mobile phones. Results highlight the unmet demand for mobile commerce services: More than eight out of 10 consumers asked for more mobile interactions with banks, telcos, retailers, utilities and other businesses.

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Retail was a key focus of mobile purchases worldwide, including entertainment services (43%), music downloads (40%), books or E-books (40%) and apparel (39%).

Overall, 63% of global consumers said they use their phones for activities other than talk and text: Half accessed the Internet at least once a day; and nearly one third (32%) purchased products or services. Just 38% of U.S. respondents said they used their mobile phones for activities other than just making calls or texting, compared to Mexico (87%), China (86%) and South Africa (74%).

Drivers and barriers to further adoption of mobile purchasing varied by country and industry. Overall, the study found that consumers would be more likely to increase their use of mobile commerce services if:

  • They had a greater choice of payment methods (64%);
  • Mobile payments were accepted by more retailers (51%);
  • Regular order updates were provided (41%); and
  • Brands and services offered additional consumer incentives (32%).

The study also found that 80% of consumers believe that businesses should use any available technology to make life easier for their customers.

“Consumers are now ready and demanding more mobile commerce services, and they also expect to engage with their mobile phones more simply and effectively,” said Anthony Reynolds, Senior VP of Worldwide Mobile Sales and Solutions at SAP, in a press release. “While progress is being made, companies must make a collective effort to provide consumers ease of use and benefits for mobile interactions and transactions, such as available technology, security and incentives. On its current trajectory, mobile occupies a tempting combination of an all-in-one communication channel, loyalty card, cash, location tracker and credit card, offering brands and companies the opportunity to connect to consumers either exclusively via mobile or as part of a multi-channel mix.”

Click here to download the full SAP report.

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