London and New York (PRWEB) September 26, 2013
Over 64% of US consumers say that they would never use a mobile wallet, according to recent research carried out by secure electronic transactions consultancy Consult Hyperion in preparation for its fall series of Tomorrow's Transactions Unconferences in the USA.
Consumers were asked who they would trust most to issue a mobile wallet: banks, phone companies, Google or major retailers, with a final option of saying no-one because they would not use such a service. The most trusted issuers were banks at 20%, followed by Google at 10%, retailers such as Walmart at 3% and phone service providers at 2%. However just over 64% stated that they would never use a mobile wallet.
"The survey shows that issuers need to do a better job of conveying what mobile wallets are and what benefits they bring," said Consult Hyperion Global Ambassador Dave Birch. "However it's interesting to see both that Google outranks both phone operators and major retailers as a trusted issuer, despite the obvious retail applications of wallets, and that banks retain the most trust for such a service."
Mobile wallets will be one of the major topics discussed at the Consult Hyperion Tomorrow's Transactions unconferences, taking place this fall in San Francisco on October 4 and New York on October 24, along with EMV, NFC contactless and cloud.
Age made a difference to the attitudes shown in the research, with the group most likely to use wallets overall from the sample being men aged from 25-34, where only 50% of those replying said they would never use a wallet. The group least likely to use wallets were women aged from 45-54 where 78% said they would never use a wallet. Banks were consistently the most favored issuer amongst all groups, except when broken down by salary where respondents earning between $50-74k chose Google as their preferred issuer.
Only a few of the consumers surveyed suggested other types of issuer, with credit unions, PayPal and Santa Claus proposed as possible alternatives.
For more information about Consult Hyperion, visit the Consult Hyperion website, follow Consult Hyperion on Twitter, and keep up to date with the latest debate at Tomorrow's Transactions Blog.
Notes to Editors:
1015 US consumers answered the following question asked during September 2013 on Google Consumer Surveys: A mobile wallet is an app that lets you pay online and in-store, provide ID, collect points/coupons and store data with a phone. Who do you trust most to issue mobile wallets? Percentages have been rounded up from two decimal places to the nearest whole number.
The San Francisco Tomorrow's Transactions Unconference, co-organised with BayPay, on October 4 2013 will feature David Wolman, author of "The End of Money", Sam Lessin, head of identity products at Facebook and Dave Birch from Consult Hyperion, ranked Europe's most influential on emerging payments by Total Payments and rated one of Wired's top 15 sources of business information.
The New York Tomorrow's Transactions Unconference, co-organised with NYPAY, on October 24 2013 will feature Brett King, author of "Banking 3.0", Peter Hazlehurst, product director for Google Wallet and Dave Birch from Consult Hyperion. For more information visit the Consult Hyperion website.
About Consult Hyperion
Consult Hyperion is an independent information technology consultancy that has spent over two decades advising leading organisations around the world. Consult Hyperion helps these organisations to reap real benefits from technological change in the field of secure electronic transactions ranging from retail payments to mobile wallets to contactless transit ticketing. Consult Hyperion is uniquely qualified to advise on turning great business ideas into working systems that can help customers, and to evaluate new business concepts, develop new products and services from specification to customer roll-out, and to test and certify complex systems.
The four main sectors the company operates in are; financial services, with card schemes, banks, retailers and others; telecommunications and media, advising world leading companies; technology, to support some of the largest IT companies, and in the public sector and transit where projects include transit operators, government and law enforcement.