A recent deal between Starbucks and mobile payment system Square has many Americans talking about the future of payment methods. Some people have even speculated that companies like Starbucks will become cash-free businesses in the future. What payment methods do most Americans use regularly and how might the deal between Square and Starbucks affect the popularity of mobile payments?
In Ask Your Target Market’s latest survey, just 7% of consumers said they’ve used mobile systems such as Square to make payments. Another 6% said they’ve used mobile payment systems to accept payments. 8% said they haven’t used mobile payments but definitely intend to. And 82% said they’ve never used mobile payments.
Overall, just 9% of consumers said they always pay with cash. 20% said they use cash as a payment method most of the time. 28% said they use cash about half the time. 38% said they rarely use cash. And 6% said they never use cash.
On the other hand, 11% of consumers said they only ever use credit or debit cards. 35% said they use credit or debit cards as a payment method most of the time. 33% said they use credit or debit cards about half the time. 15% said they rarely use credit or debit cards. And just 7% said they never use them.
In the case of Starbucks in particular, 64% of consumers said they have gone to Starbucks at least once. Starbucks customers were slightly more likely to have used mobile payment systems than the survey panel as a whole. But just 5% of those Starbucks customers often use the Starbucks mobile app. Another 4% said they have used the Starbucks app at least once. And 91% of Starbucks customers have never used the mobile app.
You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.
What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post.
Results were collected on August 15 via AYTM’s online survey panel.