Mobile pay options are becoming more popular among shoppers, especially Millennials.
A commissioned study examining consumer interest and adoption of in-store mobile payment in advance of the holiday shopping season, according to Retale, a location-based mobile platform connecting shoppers with their favorite local retailers.
The study focused on several key areas, including the benefits, challenges, and preferred usage of mobile payment. More than 1,000 adult U.S. men and women were polled between November 3-10.
Some of the report’s findings include:
- 36% have used mobile pay before – more than double the number from 2012;
- Nearly three out of five polled (56%) are interested in using mobile pay for holiday shopping;
- 24% say mobile payments are inconvenient relative to cash, credit, debit, etc.;
- PayPal was the most popular in-store mobile pay option (51%); Apple Pay was third (10%);
- Nearly 30% cited privacy concerns as a potential obstacle to them using mobile pay;
- 53% of Millennials have used mobile pay in-store (17% higher than average).