Shoppers are eager to start using mobile payment platforms, as 84 percent admitted they would use a phone to pay for small and medium purchases. However, many U.S. adults are still unaware of these services or how to use them, according to a recent survey by Verifone.
The study was conducted online by Wakefield Research during the 2014 holiday season and found that 53 percent of respondents think it's important for more stores to install mobile payment enabling devices, reported Chain Store Age. And for those under the age of 40, as many as 64 percent were willing to use the payment option once it is provided.
Although more than half of respondents found mobile payment devices important, half are still not familiar with mobile technologies such as near field communication (NFC) and mobile wallets, showing there are still many potential users to reach.
"This is a classic case of new technologies needing to reach critical mass before consumers come on board," said Joe Mach, senior VP and general manager of vertical solutions at Verifone. "Today, in 2015, the pieces are fitting into place—what's essential now is for the industries driving the mobile payment revolution, from finance to retail to systems providers, to educate consumers on mobile payment's benefits and easy use."
And while 41 percent of consumers overall believe stores should have the latest mobile technology, 59 percent said it was unimportant. The numbers changed with age, as 55 percent of consumers ages 18 to 34 agree that it is important for stores to have the latest mobile shopping technology.
Overall, the study found that cash and credit or debit cards would remain the dominant payment method in 2015, and 12 percent of consumers plan to pay using something other than these traditional methods.
Retailers are increasingly adding mobile payment options, especially as the launch of Apple Pay has thrust mobile payments into the spotlight. For example, last month Chick-fil-A announced that it would launch its mobile payment platform nationwide and was testing mobile ordering. And Starbucks (NASDAQ:SBUX) recently rolled out its mobile order and pay app within its Portland area stores.
-See this Verifone press release
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