Mobile Payments Survey: Few Have Tried Payment Apps So Far

As people make holiday purchases, they have a larger selection than ever when it comes to payment options. On top of the standard cash and credit, mobile payment options like Apple Pay and Samsung Pay are gaining popularity. But according to a report from Business Insider, there are still some barriers to mainstream adoption. So what do consumers think about using mobile payment apps? And how many have already tried them? We asked about 1,000 respondents about their thoughts on mobile payments.

mobile payments

Mobile Payments

In Ask Your Target Market’s latest survey, 8% of respondents said that they’ve used mobile payment apps many times. And 7% have used them once or twice. Apple Pay, Samsung Pay and Google Wallet were the most popular mobile payment apps mentioned by those respondents. And 70% of those who have used mobile payment apps said they’ve been at least somewhat satisfied with them.

Potential Barriers

Of those who have used mobile payment apps, 58% said they chose to start using them because of the convenience factor. 41% like that using mobile payment apps means they have less to carry. 39% think that mobile payments are more secure than other payment options. And 31% like the innovative tech features.

But of those who have not yet used mobile payment apps, 46% said that they just never considered it before. 29% said they’ve chosen not to use mobile payments because they have security concerns. 24% don’t have a compatible device. 19% are not sure how to use them. And 7% are worried that stores won’t accept their mobile payments.

Future Users

In general, 61% of respondents said that they normally pay for in-store purchases in cash. 57% use debit cards. 39% use credit cards. 12% use store cards. 7% use checks. And 5% said they normally use payment apps when making in-store purchases.

Going forward, 30% of respondents said they would be at least somewhat likely to use mobile payment apps in the next five years. And of those who are likely to use mobile payment apps in the future, 35% have already used them at least once. Apple Pay was the most popular app mentioned by those respondents, followed by Samsung, Google and Paypal.

Key Takeaways

Mobile payment apps still haven’t taken off on a large scale. But there many overwhelming barriers for consumers. Many just haven’t considered using them, likely because they don’t have a problem with their current payment options. So for companies that want to increase use of mobile payments, differentiating mobile payments from those other options could be a good strategy. For example, companies could show off just how easy they are to use or any features that make them more secure than other payments. In addition, many of those who have used mobile payments have been satisfied with the experience. So companies could potentially use happy customers in marketing materials or make it easier for them to share their experience with others in an effort to convince more people to try payment apps.

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.

Photo Credit: APPLE WATCH – APPLE PAY by Shinya Suzuki under CC BY-ND 2.0

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 December 8-14 via AYTM’s online survey panel.

Anne Pilon brings 3 years experience to AYTM as a blogger and journalist. She has a degree in journalism and marketing communications from Columbia College in Chicago and enjoys writing about business, marketing, social media, and art.