Mobile Payments Struggling In Sweden

By  |  January 8, 2013
 | 

Sweden has a very high percentage of smartphone penetration (67%) and a great attitude towards cashless payment methods . Nonetheless Swedes do not seem ready to move to mobile money.

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    According to Swedish bank SBAB, smartphone owners in the country are not convinced by mobile money. Only 34% were interest in using their mobile to purchase in stores while almost half were not interest in using mobile payments at all.

    The main reason behind this reluctance to use mobile payments is security. 58% were concerned about the possible security breaches associated with mobile phones. Others were concerned about additional costs and fees they might have to bear to use the service. Google’s mobile world data

    With many concerns about mobile money being simply myths, mobile carriers and payments providers could unlock an immense potential, simply by informing Swedish customers.


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