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BizReport : Mobile Marketing : October 23, 2014

Study finds mobile payments high on consumers' minds

Mobile access to content, email and social networks is pushing consumers' want of mobile access across that board. That's the takeaway from a new study which indicates about one-third of consumers are interested in mobile payments options while about half say they'd switch their mobile to an iDevice just to access Apple Pay options.

by Kristina Knight

"Mobile payments have been around for years, but many consumers are not yet familiar with them. With the launch of Apple Pay, we see that conversation opening up in a way we haven't seen before," said Jonathan Pirc, Founder of Lab42.

In fact, according to Lab42 data 45% of non-iPhone owners say they would switch their Android, Blackberry or Windows devices to Apple for access to Apple Pay. Why the sudden interest in an online payment option?

Researchers polled 500 smartphone owners and found security and simplicity to be two leading reasons. The respondents said they liked the idea of having their payment data on a phone so they either A) didn't have to carry credit/debit cards or B) needn't worry about losing credit/debit cards.

Other interesting findings from the report include:

• 54% say they would at least consider Apple Pay options
• 63% had at least hear of Google Wallet, 32% say they've used it
• 30% said they would switch banks for mobile payment options
• 35% say they'll begin using mobile pay options within 6 months

There are drawbacks, too. Researchers report nearly half (42%) worry that if their cell battery died they'd have no mobile pay options while 60% worry about losing their private payment data if a device was stolen.

Image via Shutterstock

Tags: Apple Pay, Lab42, m:commerce, mobile commerce, mobile marketing, mobile payments

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