Mobile Wallet Adoption: 2.5 Years

Mobile Wallet Adoption:

Where Are We 2.5 Years In?

These statistics were originally presented on March 15th at Innovation Project 2017 by Karen Webster, CEO at PYMNTS.com.

Mobile Wallet Adoption: Top Line Summary

The story of mobile wallets adoption is slow and low

The percentage people that even try wallets has flattened out and is actually declining for Apple pay

  • Steady though small decreases in trying Apple Pay since March 2016
  • Others have been roughly flat

Usage by those who have and can use for transaction very low and quite flat

  • Samsung Pay has highest usage at 4.5%; roughly constant for 1.5 years
  • Apple Pay has second highest at 4.0%; roughly constant for 2.5 years
  • Walmart Pay third at 3.3% 8 months in
  • Android Pay lowest usage at 1.1%; roughly constant for 1.5 years

Reasons for not trying mobile wallet

  • For all wallets, security concerns are becoming less of an issue
  • More people are happy with their current payment methods

Mobile Wallet Usage (By Brand)

Apple Pay The Most Tried, But Not The Most Used

Have you ever tried the mobile wallets below?

Have you used the mobile wallet for the surveyed transaction?

The Mobile Wallet Adoption Story 


Slow And Not So Steady

HAVE YOU EVER TRIED THE MOBILE WALLETS BELOW?

Apple Pay

Android Pay

Samsung Pay

Walmart Pay

Mobile Wallet Adoption – Months from Launch

Adoption and usage since the wallet was launched

Percentage of Respondents that have Tried the Wallet

Percentage of Respondents that Used the Wallet

Mobile Wallet Usage


Consumers Like Their Current Payment Method Just Fine

Apple Pay

Android Pay

Samsung Pay

Walmart Pay

Mobile Wallet Adoption

HAVE YOU USED THE MOBILE WALLET FOR THIS TRANSACTION?

Apple Pay

Android Pay

Samsung Pay

Walmart Pay

Mobile Wallet Adoption – Existing Payment Methods

Rewards And Cash Trump Wallets

Apple Pay

Android Pay

Samsung Pay

Walmart Pay

Final Thoughts

  • Mobile wallets, as they currently stand, aren’t knocking consumer’s socks off.
  • Apple’s results after 2.5 years suggest that it isn’t just a matter of time.
  • What can wallet providers do to get consumers excited enough to use it more at merchants that take it?
  • What can wallet providers do to get merchants more excited and to make sure they have the right technology for consumer to use the wallet?

Eligible Transactions:
For Apple Pay it means people with an iPhone that shopped at a store that accepts Apple Pay.*
For Android Pay it means people with a smartphone with Android OS that shopped at a store that accepts Android Pay.*
For Samsung Pay it means people with a Samsung smartphone that shopped at any retail store in the US.*
For Walmart Pay it means people that shopped at Walmart.*

SOURCE: PYMNTS.COM/INFOSCOUT

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