Mobile Wallets Gain Popularity, But Hurdles Remain

80% of Millennials Use Mobile Wallets to Pay Bills Mobile wallets have moved from sending money to friends and family to paying bills, with most millennials using them to pay at least one bill in the last year. PYMNTS’ latest study of 2,120 consumers’ bill pay trends, “Digital Bill Payments: Mobile Wallets Gain Popularity, But Hurdles Remain,” a collaboration with ACI Worldwide, details why they’re so gung ho, and why their parents aren’t so much.
Inside the June Study
  • 60%: Share of consumers who paid bills via mobile wallet in the last year
  • 79%: Portion of millennials who paid bills via mobile wallet in the last year
  • 42%: Share of consumers disinterested in mobile wallet bill pay who cited security concerns as the main reason for their lack of interest

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    ACI Worldwide Payments Playbook Series

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    How Real-Time Payments Drive the In-Store Customer Journey
    Replacing Physical With Digital
    Grocery, Pharmacy And Convenience Retailers
    The New Payments Strategy Evolution
    The Digital Wallet Mandate: Secure Bill Pay Beyond The In-Store Point Of Sale
    Big Retail's Innovation Mandate: Convenience And Personalization