Mobile Wallet Adoption: 2.5 Years

Mobile Wallet Adoption:

Where are we almost 3 years in?

Mobile Wallet Adoption: Top Line Summary

THE PERCENTAGE PEOPLE THAT EVEN TRY WALLETS HAS FLATTENED OUT AND HAS ONLY INCREASED SLIGHTLY THIS QUARTER

  • Steady though small decreases in trying Apple Pay since March 2016 until March 2017. It has increased slightly between March 2017 and June 2017.

USAGE BY THOSE WHO HAVE AND CAN USE FOR TRANSACTION VERY LOW AND QUITE FLAT

  • Apple Pay has the highest usage at 5.5%; still below its 5.9% peak
  • Walmart Pay has second highest at 5.1%, with a significant growth since last quarter
  • Samsung Pay third at 3.3%
  • Android Pay lowest usage at 1.8%; higher than in the previous quarter but still a very low usage

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 is the most tried and the most used mobile wallet

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 – Reasons for not using it

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 almost 3 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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