As mobile phones get smarter, people are using them for many different purposes. Recently, more and more people have begun using their mobile phones as a method of payment. Thanks to shopping apps and services like Square and Google Wallet, mobile purchases have become easier than ever. How many Americans have made payments using their mobile phones, and how many think it will catch on in the next few years?
In Ask Your Target Market’s latest survey, 18% of respondents said they have made purchases using their mobile phones. Men, respondents under 35, and students were more likely to have made purchases via mobile phones. And 53% of overall respondents said they currently own a phone with internet access.
Since mobile payments haven’t caught on for many Americans yet, there are several other payment methods that are used more often. 57% of respondents said they often use cash as a method of payment. 48% use debit cards often, 42% use online payment methods like Paypal, 40% use credit cards, and 22% use checks. Just 2% of respondents said they use mobile payments often, and 3% use other methods of payment.
So what do Americans think about the future of mobile payments? 14% of respondents think that mobile payments will become a primary method of payment within the next five years. 32% think that mobile payments will become much more popular within the next five years. 22% think mobile payments will become a little more popular. And 13% don’t think mobile payments will catch on in the next five years.
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 April 29 via AYTM’s online survey panel.