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?
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
Mobile Wallet Adoption
HAVE YOU USED THE MOBILE WALLET FOR THIS TRANSACTION?
Mobile Wallet Adoption – Existing Payment Methods
Rewards And Cash Trump Wallets
- 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?
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.*